Author Question: Globalization has given U.S. consumers a wider variety of gourmet food products from which to choose ... (Read 151 times)

lbcchick · **on:** Jun 29, 2018

Globalization has given U.S. consumers a wider variety of gourmet food products from which to choose and has lowered the prices of these products in general.

This, in turn, has encouraged consumers to buy more gourmet food items, which has ________ the amount of cooperative surplus for the buyers and sellers of gourmet food products. A) increased
B) decreased
C) not changed
D) reduced to zero

Question 2

When your professor asks a question that everyone in the class knows the answer to, yet no one raises his or her hand to answer the question, this is an example of what economists call

A) flying under the radar.
B) shirking responsibility.
C) the volunteer's dilemma.
D) a game of chicken.