In considering consumers' attitudes toward fairness, which of the following have economists found to be true?
a. People are interested mainly in making themselves as well off as possible.
b. People attempt to treat others fairly, even if doing so makes them worse off financially.
c. People attempt to treat others fairly, but only if doing so makes them better off financially.
d. People usually ignore fairness when making spending decisions.
b. People attempt to treat others fairly, even if doing so makes them worse off financially.
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According to the article, ________ is expected to increase and add to China's ________ component of GDP
A) retail sales; consumption B) retail sales; investment C) rental income; investment D) rental income; exports
The past two decades has seen a steady increase in the share of total taxes paid by high-income groups
a. True b. False
Which of the following firms is the closest to being a perfectly competitive firm?
a. a hot dog vendor in New York b. Microsoft Corporation c. Ford Motor Company d. the campus bookstore
Adverse selection will occur in a market as a result of
A) rational ignorance. B) moral hazard. C) the sale of "lemons." D) asymmetric information.