Owners of ________ have unlimited liability

Which of the following is a normative economic statement?

a. The unemployment rate for the United States is currently 5.4 percent. b. The inflation rate in the United States is too high. c. An increase in the price of a good will reduce the amount purchased. d. Higher profits in an industry will attract more entrepreneurs into the industry.

Which of the following best describes the relationship between market transactions and the ultimatum and dictator games?

A. Market transactions operate more like the ultimatum game than the dictator game. B. Market transactions operate more like the dictator game than the ultimatum game. C. The ultimatum and dictator games both provide good representations of how market transactions work. D. Neither the ultimatum game nor the dictator game bears much similarity to market transactions.