Multiple Choice
Behavioral economists have found that people are more willing to save if saving is the default option, as in the case in which they have to opt out of an automatic payroll deduction savings plan. Economists call this:
A) a rule of the game.
B) the ultimatum game.
C) the status quo bias.
D) efficient rationality.
Correct Answer:

Verified
Correct Answer:
Verified
Q6: The following table describes utility for
Q7: As a consumer moves along a budget
Q8: Tom is maximizing utility by buying three
Q9: Some kids wait until the school year
Q10: Using the indifference curve model, a demand
Q12: Suppose one Big Mac gives you a
Q13: When marginal utility is positive, total utility
Q14: Refer to the graph shown. <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB7145/.jpg"
Q15: If marginal utility is declining but still
Q16: Suppose that the total utility of consuming