Choice architecture focuses on such factors as:
A. the timing of choices.
B. how different options are described.
C. Both A and B are true.
D. Neither A nor B is true.
Answer: C
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An example of a government policy to enhance technological progress is:
A. the provision of publicly-funded education. B. government support for basic research. C. the construction of an interstate highway system. D. maintaining a well-functioning legal system.
Why do CDs have lower rates of return than stocks?
A) CDs are much riskier investments than stocks. B) CDs are less risky than stocks. C) CDs are not taxed while stock s returns are taxable. D) CDs are not as liquid as stocks.
For a monopoly earning positive economic profits at the profit-maximizing output level, all of the following are true EXCEPT
A) P > ATC. B) P > MR. C) P > MC. D) P = MR.
The definition of cross elasticity of demand for two products X and Y is
a. percentage change in quantity of X demanded/percentage change in quantity of Y demanded. b. percentage change in price of Y/percentage change in quantity of X demanded. c. percentage change in price of Y/percentage change in price of X. d. percentage change in quantity of X demanded/percentage change in price of Y.