When the Responses to Two Survey Questions Are Presented as a Cross-Tabulation

question 36

Short Answer

When the responses to two survey questions are presented as a cross-tabulation of the two variables studied in these two questions,the result is called a(n)____________________ table.

Understand the concept of deadweight loss resulting from a tax and its implications on market efficiency.

Recognize how elasticity of supply and demand affects the outcome of a tax imposition.

Understand the administrative and compliance costs associated with taxes.

Comprehend the effects of taxes on specific markets, such as SUVs and lattes.

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Definitions:

Endowment Effect

Refers to the phenomenon where people ascribe more value to things merely because they own them.

Ultimatum Game

A game in experimental economics where two players decide on how to divide a sum of money; one proposes the split, and the other can accept or reject it.

Behavioral Economists

Researchers who study the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.

Dictator Game

An experimental game in economics and psychology where one player, the "dictator," determines how to split an endowment between themselves and another player.