Which of the following is NOT a commitment device?
A. A manufacturer's 2-year agreement to fix, at no cost to you, anything that breaks on your computer.
B. A non-refundable advance payment to reserve a room at a resort.
C. A pre-nuptial agreement that provides for a large penalty in the event a spouse has an affair.
D. High fines for illegal parking on campus.
Answer: D
Economics
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In the United States today, the government will exchange gold or silver for paper money
Indicate whether the statement is true or false
Economics
The economic problem is essentially one of deciding how to make the best use of
A. limited resources to satisfy limited wants. B. unlimited resources to satisfy limited wants. C. limited resources to satisfy unlimited wants. D. unlimited resources to satisfy unlimited wants.
Economics