EBK HEALTH ECONOMICS AND POLICY
7th Edition
ISBN: 9781337668279
Author: Henderson
Publisher: YUZU
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Chapter 14, Problem 7QAP
To determine
To explain the
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- A manufacturer of a sugar substitute has launched a campaign against the consumption of sugar. This is an example of ________. indoctrination backward induction anchoring sniping There are two grocery stores in the new neighborhood that you have moved into. Because you did not know which store is better, you decided to go to the one that is relatively crowded. Your behavior is an example of ________. herding anchoring signaling sniping Which of the following questions can be answered using the concepts of macroeconomics? Why does the rate of economic growth fluctuate from year to year? What is the difference between demand and quantity demanded? What is the effect of an increase in price on the supply of a good? Why do some firms produce differentiated goods? How does the expenditures measure of GDP differ from the production measure? It doesn't. The final value is the same. It is lower, because only purchased items are counted. It is higher due to the higher cost of a…arrow_forwardEconomic behavior is more complex than assumed by conventional economic theory. Political economy explains the functioning of government. Behavioral economics ties psychology into human behavior. Economists assume that individuals make rational decisions. However real people are more complex. Based on what you have learned in your assigned reading, answer the following questions in your initial post: What are the human behaviors economists should observe when creating economic models? Example: people tend to find solutions that are good enough, but not the best solutions. In your responses, comment on at least two of your peers' posts and share example of how non-rational human behavior can change an economic outcome.arrow_forwardWhat are the principle characteristics of positive versus normative economic analysisarrow_forward
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