Rebecca Has Two Possible Courses of Action to Propose

question 13

Multiple Choice

Rebecca has two possible courses of action to propose. One is significantly more costly than the other, and she is hoping to gain approval for that one. Which of these persuasion strategies is likely to work in her favor?

• A) Present the smaller one first. If the sponsor says yes, ask if she would consider the bigger one.
• B) Present the smaller one first. If the sponsor says no, ask if she would consider the bigger one.
• C) Present the bigger one first. If the sponsor says yes, admit that you were willing to accept the smaller one.
• D) Present the bigger one first. If the sponsor says no, ask if she would consider the smaller one.
• E) All of these have been shown to be equally effective.

Understand the concept of Individual Transferable Quotas (ITQs) and their role in fisheries.

Understand the importance of well-defined and enforced property rights in sustainable resource management.

Recognize effective policies for reducing fishery catch sizes and preventing overfishing.

Understand the basic principles and outcomes of bargaining and market transactions in resource management.

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Definitions:

Price Level

A measure of the average prices of goods and services in the economy at a given time.

Value of Money

The purchasing power of money, which is the quantity of goods and services that can be purchased with a unit of currency.

Federal Reserve

The central banking system of the United States, responsible for conducting the nation's monetary policy and overseeing its banking system.

Excess Money

The surplus of cash beyond what is needed for immediate expenses or investments.