A countercyclical policy says that an economic boom is a more appropriate time for lowering taxes and increasing spending

If there is a negative externality associated with the production of chewing gum, then the most efficient allocation of resources in gum production occurs at the intersection of the

a. demand curve and the private cost curve b. demand curve and the externality curve c. demand curve and the social cost curve d. social cost curve and the private cost curve e. private cost curve and the externality cost curve

Conventional economic theory suggests that in the ultimatum game, the player proposing a split of $50 will propose that she get $49 and that the other player get $1 . By the same reasoning, if the amount to be split is $1000, the player proposing the split will propose that she gets

a. $500 and that the other player gets $500. b. $998 and that the other player gets $2. c. $999 and that the other player gets $1. d. $1000 and that the other player gets nothing.