Traditionally, economists have considered culture, customs, and religion as
A) very important influences on the choices consumers make.
B) subject to normative economic analysis rather than positive economic analysis.
C) relatively unimportant factors in explaining the choices consumers make.
D) important influences in explaining consumer choices in command economies but less important in market economies.
C
You might also like to view...
Global warming and biodiversity are examples of ______________ and must, therefore, be addressed by multiple nations rather than a single nation acting alone.
a. international externalities b. national vulnerabilities c. multinational exigencies d. protectionist values
The profit earned from selling an asset for more than you paid for it is called
a. capital gains. b. the real interest rate. c. depreciation. d. appreciation.
Why do supermarkets stock thousands of items that people enjoy?
a. Competition, self-interest, and market prices influence the supermarkets' decisions on which items to stock. b. The rules of the SNAP program, formerly known as food stamps, require supermarkets to stock certain items. c. State governments regulate supermarkets. d. The federal Food and Drug Administration requires supermarkets to stock certain items.
The purchasing power parity theory is not a good explanation of how nominal exchange rates are determined in the short run because:
A. there is no evidence that low inflation is associated with less rapid nominal exchange rate depreciation. B. most goods and services are traded internationally and are standardized. C. most nominal exchange rates are fixed and foreign exchange markets do not bring the supply and demand for currencies into equilibrium. D. many goods and services are not traded internationally and not all internationally-traded goods are standardized.