In some cases, social regulation may alter individuals' behavior. For example, there is evidence to indicate that as more automobile safety regulations have been introduced, more individuals have begun to drive recklessly. This phenomenon is known as
A. the share-the-gains effect.
B. the share-the-pains effect.
C. the capture effect.
D. the feedback effect.
Answer: D
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The change in saving divided by the change in income is the:
A. marginal propensity to save. B. saving function. C. average propensity to save. D. extra propensity to save.
If a homeowner's insurance policy provides coverage for less than 80 percent of the full replacement cost of the dwelling, then the loss of the residence will be settled for
A) the market value of the property less the land value. B) the lowest repair bid. C) either the actual cash value or the prorated repair cost. D) the total replacement cost.
If in the market for apples the supply has decreased, then
A) the supply curve for apples has shifted to the right. B) there has been a movement upwards along the supply curve for apples. C) the supply curve for apples has shifted to the left. D) there has been a movement downwards along the supply curve for apples.
The supply curve for a monopoly and for a perfectly competitive industry are virtually identical.
Answer the following statement true (T) or false (F)