Economists normally
a. do not try to explain people's tastes, but they do try to explain what happens when tastes change
b. believe that they must be able to explain people's tastes in order to explain what happens when tastes change.
c. do not believe that people's tastes determine demand, so they ignore the subject of tastes.
d. incorporate tastes into economic models only to the extent that tastes determine whether pairs of goods are substitutes or complements.
a
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Assuming upward sloping labor supply, wage subsidies are definitely more inefficient
A. the more elastic labor demand is. B. the more elastic labor supply is. C. the more substitutable consumption and leisure are. D. Both (a) and (b) E. Both (b) and (c) F. Both (a) and (c) G. All of the above H. None of the above
According to new classical economists,
a. deficits should have a large and negative impact on output. b. deficits should have no discernable impact on output. c. deficits will have no impact on private consumption. d. growth in the 1990s was driven by falls in the deficit. e. None of the above
Campaign finance reform is usually proposed
a. as a way of reducing the power of special-interest groups b. as a form of rent seeking c. by economists as a way of implementing the median voter model d. by political action committees e. by the Justice Department
An advantage of conventional job analysis interviews and questionnaires is _____.
A. increased employee understanding of the process B. lower cost to the organization C. reduced subjectivity D. less time to complete the process