If government requires a firm to implement a nudge, the government's action is not a nudge.
Answer the following statement true (T) or false (F)
True
Nudges require freedom of choice. Requiring a firm to take an action negates free choice and turns a nudge into a push.
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When the economy enters a prosperity phase, personal income tax collections
a. fall along with consumption and real GDP b. rise along with real GDP but unemployment insurance payments to workers fall c. rise but real GDP and unemployment insurance payments to workers fall d. fall along with real GDP but unemployment insurance payments to workers rise e. fall causing real incomes and employment to fall
Growth in GDP systematically understates the growth in national well being because
a. ecological costs are netted out of GDP. b. "bads" as well as "goods" get included in GDP. c. investment is not included in GDP. d. as a country gets richer, leisure time increases.
Which of the following is true for a perfectly competitive market in long-run equilibrium?
A. There is no incentive for new firms to enter the market. B. Each firm in the market earns zero economic profit. C. There is no incentive for existing firms to leave the market. D. All of these are correct.
A mixed market is one in which:
A. consumers can be buyers and sellers and producers can be sellers and buyers. B. there are different qualities of a good being sold in the market and there is imperfect information about the quality of each good. C. a seller of a good requires that the purchase of one good be tied to the purchase of another. D. demand is positively sloped and supply is negatively sloped.