Evan knows his GPA would skyrocket if he could break his horrible habit of procrastinating. An example of a commitment device Evan could use would be:
A. to allow himself one hour of leisure for every half-hour of studying he does each day.
B. to pay a student to meet him each afternoon for 2 hours in the library to ensure he studies every day.
C. to exercise before studying in order to be refreshed.
D. All of these are commitment devices.
Answer: B
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Differentiate between positive and normative economics using examples
What will be an ideal response?
U.S. auto sales took a beating in September 2008 as the nation's worsening economy turned dealer showrooms into ghost towns
Automakers reported a sharp drop-off in sales in the last ten days of the month as news of bank failures and a stock market meltdown increased economic uncertainty. What type of constraint do the automakers face when there is increased economic uncertainty? A) information constraint B) technology constraint C) marketmconstraint D) price constraint
Refer to the figure above. Domestic consumers of this product in A would most prefer
A) a customs union with C. B) a customs union with B. C) a free trade agreement with C. D) no agreement with either country.
Karl Marx published:
a. The Wealth of Nations. b. General Theory of Communism. c. Das Kapital. d. Capitalist Manifesto.