Not buying junk food while doing the weekly shopping and forcing an extra trip to the store to acquire it is an example of:
A. increasing the cost of a vice.
B. a commitment device.
C. how people compensate for time-inconsistent decisions.
D. All of these are true.
D. All of these are true.
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In developing nations, the combined rate of urban and rural unemployment or underemployment is about
a. 1 percent b. 10 percent c. 20 percent d. 30 percent e. 80 percent
An increase in aggregate supply will cause the price level to:
a. rise and GDP to rise b. rise and GDP to fall. c. rise and the unemployment rate to fall. d. fall and GDP to rise. e. fall and the unemployment rate to rise.
How did the gold standard help countries rectify the balance of payment problem? What were the problems associated with the gold standard?
Scarcity implies that the allocation scheme chosen by society can
A. always make more of all goods, simultaneously. B. not make more of any one good. C. typically make more of a good but at the expense of making less of another.