Jose is rational if he
A. only responds to rewards that involve money.
B. always uses a model or mathematical formula to help him make a decision.
C. never makes a mistake in his life.
D. does not intentionally make decisions that would leave him worse off.
Answer: D
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The World Trade Organization provides for all of the following EXCEPT
A) the usage of the most favored nation clause. B) assistance in the settlement of trade disagreements. C) bilateral tariff reductions. D) multilateral tariff reductions. E) the prevention of nontariff interventions in trade.
A person's tendency to smoke a cigarette after promising himself that he will quit is an example of the behavioral economics insight that people are inconsistent over time
a. True b. False Indicate whether the statement is true or false
The data in the table show the marginal costs and marginal benefits to a city for five different levels of pollution control.Quantity of Pollution AbatementMarginal CostMarginal Benefit900 tons$400,000$100,000800 tons300,000150,000700 tons200,000200,000600 tons100,000250,000500 tons50,000300,000Refer to the above table. If the city seeks an optimal reduction of the externality, then it will select how many tons of pollution abatement?
A. 500 B. 600 C. 700 D. 800
If workers always see inflation coming, and if they demand wage increases in advance so that inflation does not erode real wages, then the economy’s aggregate supply curve on the AD–AS diagram will
A. be a vertical line corresponding to potential GDP. B. be a horizontal line corresponding to potential GDP. C. slope downward. D. slope upward.