The Table Below Shows the Total Utility Associated with Various

question 134

Multiple Choice

The table below shows the total utility associated with various units of goods X and Y.Table 7.5

-Which of the following sentences, based on the findings of neuroeconomics, is true?

• A)Logical decision-making takes place in the limbic system.
• B)Emotional decision-making takes place in the prefrontal cortex.
• C)The prefrontal cortex confuses the logical side of the brain by bringing in emotions, and in some cases it takes over and demands immediate gratification.
• D)Adults have greater activity in their frontal lobes and lower activity in their amygdala than do teenagers.
• E)The amygdala takes a long-term perspective on the decision-making, looking at logical cost-benefit comparisons.

Understand how excise taxes work, including their incidence, effects on market equilibrium, and revenue generation.

Recognize the role of public finance in funding government activities and the sources of government revenue.

Explain the circular flow model and the role of federal government within it.

Define and provide examples of proprietary income.