Which of the following would a behavioral economist be most likely to study?
a. how raising price affects demand for new technology products with no known substitutes
b. the effect of consumer equilibrium on a hypothetical transnational marketplace
c. how websites that favor one- or five-star customer reviews influence purchasing decisions
d. the effects of financial debt on the psychological health of consumers and appropriate treatments
c. how websites that favor one- or five-star customer reviews influence purchasing decisions
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If the consumption function can be described as C = 200 + .80Y, the marginal propensity to save is equal to
A) -0.80. B) 0.80. C) 0.20. D) 200.
The failure of the Knights of Labor to bring about structural change in the U.S. economy and society was mainly due to
a. the disruptive activities of detective agents hired by employers b. its inability to convince its own members of the importance of these wider goals c. its failure to represent the less-skilled industrial workers d. its excessive focus on craft unions e. its limited membership