Feature of behavioral economic model

Assignment Help Business Economics
Reference no: EM131163083

1. Which of the following is a possible criticism of the happy-is-productive model?

A. The roles attributed to managers under this model represented a new brand of elitism.

B. The economic interests of employees were inappropriately emphasized under this model.

C. The model is based on the assumption that firms operate in a market where there is fierce competition among firms.

D. The model proves to be expensive for a firm to execute.

2. Which of the following is a feature of a behavioral economic model?

A. It focuses on cognitive, emotional, and social factors that affect individual decisions.

B. It considers incentives an unimportant tool to study human behavior.

C. It suggests that individuals always behave rationally.

D. It is based on marginal analysis in decision making.

3. The ______ of an uncertain payoff is defined as the weighted average of all possible outcomes, where the probability of each outcome is used as the weights.

A. expected value

B. standard deviation

C. variance

D. skewness

4. If employees’ activities follow the economists’ view of behavior, managers will be most effective if they can

A. influence the costs and benefits of employee actions.

B. improve employee satisfaction with the job.

C. communicate goals and objectives effectively to their employees.

D. fire inefficient employees.

5. There is an increase in availability of alternative fuels through research and development. Which of the following correctly captures the effect of this change on the market for gasoline?

A. Both equilibrium quantity and price will increase.

B. Both equilibrium quantity and price will decrease.

C. Equilibrium quantity will increase, but equilibrium price will decrease.

D. Equilibrium quantity will decrease, but equilibrium price will increase

6. There is an OPEC cartel that reduces the production of world oil by several million barrels a day. Which of the following correctly captures the effect of this change on the market for gasoline?

A. Both equilibrium quantity and price will increase.

B. Both equilibrium quantity and price will decrease.

C. Equilibrium quantity will increase, but equilibrium price will decrease.

D. Equilibrium quantity will decrease, but equilibrium price will increase.

Reference no: EM131163083

Questions Cloud

Other policy alternatives such as gasoline tax : The state and local government heavily subsidizes MARTA in an attempt to keep the costs of ridership low. Provide an economic argument as to why the government would want to provide such a subsidy. Be sure to discuss the cost effectiveness of this vi..
Financial impact of spending additional money : What would be the financial impact of spending this additional money on advertising for the month of February (28 days)?
Readiness for developing and implementing change : Journal Post: Identify ways to assess an organization's readiness for developing and implementing change by establishing groundwork for team projects. For each journal post throughout the course you will be expected to discuss the following:
Find the final temperature of the filament : If the temperature coefficient of resistivity of the filament is 0.0045 (oC)-1 and the resistivity increases linearly with temperature, find the final temperature of the filament.
Feature of behavioral economic model : Which of the following is a possible criticism of the happy-is-productive model? Which of the following is a feature of a behavioral economic model? If employees’ activities follow the economists’ view of behavior, managers will be most effective if ..
What price should the company charge : The Synergy Company uses cost-plus pricing with a 50% mark-up. The company is currently selling 100,000 units at $12 per unit. Each unit has a variable cost of $6. In addition, the company incurs $200,000 in fixed costs annually. If demand falls t..
What is the shape of this curve : What conclusions can you draw about the material requirements of manufacturing small spherical lenses for use in personal electronic devices?
Write a paper about king tutankhamen : Write a paper about King Tutankhamen, Nefertiti, Queen Hatshepsut, Any specific pharaoh, The Sphinx, Mummification and The Pyramids of Giza.
Comparison of the three methodologies : Write a substantive 2000 word Word Doc comparison of the three methodologies below using at least 3 tables with each table comparing the three methodologies in one or more domain.  Word count is in addition to words used in table.

Reviews

Write a Review

 

Business Economics Questions & Answers

  What price-output combination would exist with efficient

What price-output combination would exist with efficient pricing (MC = P)? Draw a graph with MC, Demand curve and MR curves for the problem above.

  Describe how each of these activities affects government

Describe how each of these activities affects government, households,and businesses. Describe the flow of resources from one entity to another for each activity.

  Retailer to carry specific product-provide specific service

Write a letter of proposal to a local retailer to carry a specific product or provide a specific service. Gather data from friends, family, coworkers and other target market consumers to justify the need for the product in this specific retail locati..

  How much did GDP increase a result of transactions

A farmer sells cotton to a clothing company for $1,000 and the clothing company turns the cotton into T-shirts that it sells to a store for a total of $2,000. How much did GDP increase a result of these transactions?

  Wages-prices are completely and immediately flexible

Assume that wages and prices are completely and immediately flexible. Assume that oil prices increase in the United States.

  Prepare the income statement and retained earnings statement

Prepare the income statement and retained earnings statements for the year and the classified balance sheet at August 31.

  Is the student necessarily better or worse off

Is the student necessarily better or worse off than before from such a transfer implied by consultant A.

  Indifference curves-are contour lines only of linear utility

Indifference curves- Are contour lines only of a linear utility function?

  Name the top ten ways culture affects negotiation

Name the top ten ways culture affects negotiations You must list all fen to receive credit.

  Attract investors with different risk appetites

The securitization process reduces the total amount of credit risk embedded in the underlying mortgages, attract investors with different risk appetites, and give home buyers easier access to credit. Each time a new security is created during the sec..

  Simultaneous rise in productivity and nominal wages

A simultaneous rise in productivity and nominal wages would shift the short-run aggregate supply curve to the: right if the rise in nominal wages is larger than the rise in productivity. right if the cost per unit of output rises. left if the cost pe..

  What is the annual equivalent of her deposits

Helen can earn 3% interest in her savings account. Her daughter Roberta is 11 years old today. Helen deposits $4000 today, and one year from now she deposits $1000. Each year she increases her deposit by $500 until she makes her last deposit on Rober..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd