According to the text, gift giving in kind
A. happens only because people expect to get gifts in return.
B. always increase consumer welfare.
C. should happen more often if people were rational.
D. cannot be easily explained by the rational choice model.
Answer: D
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Predatory dumping by foreign firms is a very common phenomenon in U.S. markets
Indicate whether the statement is true or false
Which of the following best represents the effects of an increase in the price of coffee, other things being equal?
a. A leftward shift in the demand curve for coffee. b. A downward movement along the demand curve for coffee. c. A rightward shift in the demand curve for coffee. d. An upward movement along the demand curve for coffee.
In the high-income economies of the world, only about 2% of GDP comes from ______________.
a. manufacturing b. agriculture c. services d. textiles
Who formulated the theory that government borrowing may function like an increase in taxes in the sense of reducing current consumption and business expenditures?
A. David Ricardo B. John Maynard Keynes C. Jean Baptiste Say D. Adam Smith