What is the conclusion that behavioral economists have made about the amount of product variety in the market place?
What will be an ideal response?
The researchers have concluded that while some choice is highly valued by people, too much choice can reduce purchases.
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What is a patent?
What will be an ideal response?
Distinguish between risk that can be reduced through diversification and risk that cannot be reduced through diversification
What will be an ideal response?
When a tax is levied on the sellers of a good, the
a. supply curve shifts upward by the amount of the tax. b. quantity demanded decreases for all conceivable prices of the good. c. quantity supplied increases for all conceivable prices of the good. d. None of the above is correct.
Which statement is most accurate?
A. There is virtually no poverty in the U.S. because the standard of living of all Americans has at least tripled since World War II. B. Compared to the average citizens of Bangladesh, Ethiopia, and Zambia, most of our poor would be considered relatively well off. C. Most of those living below the poverty line are homeless. D. As welfare programs are cut back the poverty rate will decline.