Alan Krueger conducted a survey of fans at the 2001 Super Bowl who purchased tickets to the game for $325 or $400
Krueger found that (a) 94 percent of those surveyed would not have paid $3,000 for their tickets, and (b) 92 percent of those surveyed would not have sold their tickets for $3,000. These results are evidence of
A) the high value fans place on watching the Super Bowl in person, rather than on television.
B) the failure of consumers to ignore sunk costs.
C) consumers being overly optimistic about their future behavior.
D) the failure of consumers to take into account nonmonetary opportunity costs.
D
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In the classical model, a tax on capital will
a. increase the demand for labor, the real wage, and output. b. increase the supply of labor, reduce real wages, and increase output. c. decrease the demand for labor, the real wage, and output. d. have no effect on the labor market. e. increase both labor demand and supply, which will increase output.
Both President Bush and President Obama wanted tax cuts to stimulate consumer spending during the 2007-2009 recession
a. True b. False Indicate whether the statement is true or false