Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Chapter 22, Problem 2QAP
To determine
Explain the given statement.
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Does the public's expectation of a policy influence its effectiveness?
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A nudge is a policy solution that is
(A) cheap to implement;
(B) has a predictable effect on agents’ behavior;
(C) does not put additional constraints on agents’ freedom of choice;
(D) all of the above.
Chapter 22 Solutions
Microeconomics
Ch. 22.1 - Prob. 1QCh. 22.1 - Prob. 2QCh. 22.1 - Prob. 3QCh. 22.1 - Prob. 4QCh. 22.1 - Prob. 5QCh. 22.1 - Prob. 6QCh. 22.1 - Prob. 7QCh. 22.1 - Prob. 8QCh. 22.1 - Prob. 9QCh. 22.1 - Prob. 10Q
Ch. 22 - Prob. 1QECh. 22 - Prob. 2QECh. 22 - Prob. 3QECh. 22 - Prob. 4QECh. 22 - Prob. 5QECh. 22 - Prob. 6QECh. 22 - Prob. 7QECh. 22 - Prob. 8QECh. 22 - Prob. 9QECh. 22 - Prob. 10QECh. 22 - Prob. 11QECh. 22 - Prob. 12QECh. 22 - Prob. 13QECh. 22 - Prob. 14QECh. 22 - Prob. 15QECh. 22 - Prob. 16QECh. 22 - Prob. 17QECh. 22 - Prob. 18QECh. 22 - Prob. 19QECh. 22 - Prob. 20QECh. 22 - Prob. 21QECh. 22 - Prob. 22QECh. 22 - Prob. 23QECh. 22 - Prob. 24QECh. 22 - Prob. 25QECh. 22 - Prob. 26QECh. 22 - Prob. 1QAPCh. 22 - Prob. 2QAPCh. 22 - Prob. 3QAPCh. 22 - Prob. 4QAPCh. 22 - Prob. 1IPCh. 22 - Prob. 2IPCh. 22 - Prob. 3IPCh. 22 - Prob. 4IPCh. 22 - Prob. 5IPCh. 22 - Prob. 6IP
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- What is the outcome of the Stolper-Samuelson Theorem??? Account for lessons derived and offer appropriate policy recommendations.arrow_forwardWhat does it mean for a policy outcome to be a Pareto Improvement? What about a Potential Pareto Improvement? Is this a reasonable expectation for policy in most settings? Give an example where a Pareto Improvement (following redistribution) a.) might be achievable b.) seems incredibly unlikelyarrow_forwardDiscuss the core notions of the market-friendly approach, one of the three ideological strands associated with neoclassical thought.arrow_forward
- Define behavioral economics and explain how it contrasts with neoclassical economics.arrow_forward“Economics is the distribute scare resource to different group of society” - justify this statement from the different view of economics.arrow_forwardWhy is economics so useful for, or amenable to, policymaking?arrow_forward
- The consumer theory and the expected utility theory are two theories. Give a policy recommendation on how individuals decision making is affected in each theory.arrow_forwardDefine Degree of necessity?arrow_forwardWhy is the economic indicator “consumer sentiment” relevant for making successful policy decisions?arrow_forward
- What is the Stackelberg Theory in Economics?arrow_forwardWhat do you think of the ethics of using unconscious nudges to alter people’s behavior? Before you answer, consider the following argument made by economists Richard Thaler and Cass Sunstein, who favor the use of nudges. They argue that in most situations, we couldn’t avoid nudging even if we wanted to because whatever policy we choose will contain some set of unconscious nudges and incentives that will influence people. Thus, they say, we might as well choose the wisest set of nudges.arrow_forwardIn what way is neoclassical economics different from old and new institutional economics? Which school of thought is founded on principles that are closer to reality?arrow_forward
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