According to Some Principles of Behavioral Economics, the "Energy-Efficiency Gap

question 6

Multiple Choice

According to some principles of behavioral economics, the "energy-efficiency gap" implies that

• A) consumers are more likely to favor trucks over cars
• B) consumers often will not buy fuel-efficient vehicles that will save them money in the long run.
• C) consumers react quickly to perceived mileage differences among cars
• D) consumers have no way of knowing about mileage differences among cars

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Definitions:

Common Law

A legal system characterized by case law and legal precedents established by court decisions, as opposed to statutory laws enacted by governmental bodies.

Consideration

The benefit, interest, right, or profit that induces a party to enter into a contract; a fundamental component of a valid contract.

Common Law

A body of legal rules and principles based on court judgments and customs, rather than formal statutes or legislations.

UCC

The Uniform Commercial Code (UCC) is a comprehensive set of laws governing all commercial transactions in the United States, intended to standardize and simplify the law across state lines.