Recall the Application About the Experiment in Which Chinese Factory

question 75

Multiple Choice

Recall the Application about the experiment in which Chinese factory workers were divided into groups
and offered bonuses for their production output to answer the following question(s) .
-The results of the experiment discussed in this Application show the differences in productivity from the threat of having a bonus taken away for not meeting a production target and the promise of receiving a bonus for meeting a production target. These results describe the economic concept of

• A)using assumptions to simplify.
• B)ceteris paribus.
• C)marginal thinking.
• D)rational self interest.

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Definitions:

Trade Barriers

Measures implemented by countries to regulate or restrict trade with other countries, including tariffs, quotas, and import bans, typically aimed at protecting domestic industries.

NATO

NATO, the North Atlantic Treaty Organization, is a military alliance formed in 1949 by countries in North America and Europe to provide collective security against aggression.

Pact of Brussels

An agreement signed in 1948 by five Western European nations, forming a mutual defense pact that preceded NATO.

Konrad Adenauer

The first Chancellor of the Federal Republic of Germany (West Germany) from 1949 to 1963, noted for his role in the country's post-war reconstruction and development.