fatal equilibrium – Flashcards
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Dennis Gossen has been teaching at _________ for ____years
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Harvard for 5 years
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Dennis Gossen was a ______major in undergrad and came from the state of _________
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Chemistry Major; california
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Dennis Gossen's Grad work was done at
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Stanford
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Gossen felt other assistant professors did not surpass him in __________________
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Intellectual prowess
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Gossen's special area of study was known as _____________
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Economics of information
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This area of study originated in
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University of Chicago
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This subject is also known as _______
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information theory
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Most economists developed their models assuming that the cost of information is ________
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zero
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Like any good, information will be collected so long as the value of it is ________ than the cost of acquiring it
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greater
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Gossen focused on information in _______ markets
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labor
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Gossen believed that workers would search for longer for work in occupations where wages were _______
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higher
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Gossen was ________by his colleagues
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admired
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Gossen's girlfriend's name was ____________ whom he met at _______
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Melissa Shannon; a play
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The P&T committe evaluated candidates from all fields of_______&_______
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Arts & sciences
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The name of the dean in charge of the P&T
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Denton Clegg
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The name of the Economist on the committee
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Henry Spearman
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The name of the mathematician on the committee
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Morrison Bell
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The name of the "classics" member on the committee
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Foster Barrett
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The name of the sociologist on the committee
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Oliver Wu
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The name of the psychologist on the committee
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Valerie Danzig
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The name of the english teacher on the committee
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Calvin Weber
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The name of the chemist on the committee
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Sophie Ustinov
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Which member of the committee elevated social position to a criterion for promotion?
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Foster Barrett
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Which committee member has socialized with Gossen before the committee's deliberations?
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Valerie Danzig
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The chairman of the economics department was
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Leonard Kost
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Which committee member believed that men & women were just as likely to ac irrationally as logically?
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Valerie Danzig
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The economist who criticized the economic man theory was
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Thorstein Veblen
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When Spearman's wife summons him home to talk with Gossen, Henry begins to calculate the ________ of four hours of his time
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Opportunity cost
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Spearman liked to tell his students that a _________secretary may be better able to afford a vacation than the __________.
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legal secretary & attorney
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Regarding his father's business as a tailor, Spearman claimed that when ______ determined the prices for tailoring, courtesy & services were methods of gaining & keeping customers
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market forces
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Which committee member was associated with criminology & rejected Gossen's utilitarian view? (He also calculated the cost of murder)
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Oliver Wu
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When Spearman suggested that his daughter, a vet, raise her rates to deal with her too busy schedule, he was applying the _________
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law of demand
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Spearmans daughter confused ______ with ______________
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demand with quantity demanded
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The power of the marketplace to determine fair prices was seen in the trip that Spearman & his daughter made to ___________, a Boston department store
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Filenes
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If Calvin Weber was willing to pay more than he had to pay for a ballpoint pen, he would be receiving a _______________
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consumer surplus
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The fact that an individual is willing to spend more time searching for a good deal on a car than he would for a good deal on a paring knife is an illustration of _________theory
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value of time
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Bidding for license to "pollute" was offensive to ________a Sierra Club member.
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Morrison Bell
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The January 7th gathering at Henry Spearman's house was a meeting of the ________
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P&T committee
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Denton Clegg was surprised at the January 7th party when his fellow colleagues gave him a rare stamp in honor of his _____ years as a dean as well as his _______birthday
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10 years as dean, 60th birthday
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The stamp which Clegg received was known as a _______
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Black Jack
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The stamp dealer's name was
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Christolph Burckhardt
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______was the former chairman of the economics department
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Quincy Lane
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___________, The chairperson of the economics department, was able to keep power concentrated in his office by keeping the department continually off balance
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Leonard Kost
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_________had a deep voice & distinguished appearance
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Denton Clegg
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The _________ had made it clear to Dean Clegg that there were to be no more than ______tenured promotions in the Arts & Sciences
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Board of overseers, 5
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________was once a candidate for dean of the faculty but lost out to Denton Clegg
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Oliver Wu
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Oliver Wu was at one time being considered for an endowed chair, but was denied because of the influence of _______, a committee member. By talking to ________, a _________, Wu discovered that __________ had changed everyone's mind on the committee
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Oliver Wu was at one time being considered for an endowed chair, but was denied because of the influence of Morrison Bell a committee member. By talking to Raymond, a cabdriver, Wu discovered that Bell had changed everyone's mind on the committee
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Christolph Burkhardt's companion at the social gathering was ______________
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Melissa Shannon
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Melissa Shannon was a student at ____________
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Boston University
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Another name for a stamp collector is a _________
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philatelist
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Pidge Spearman was confused by the behavior of ______at the January 7th social gathering
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Oliver Wu
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Dennis & Melissa were both experiencing some jealous feelings. Dennis over her relationship with _________, and Melissa over his relationship with _________
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Christolph Burckhardt, Valerie Danzig
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Gossen ran into some problems when he went to comittee members to question some research that had been done by
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Clegg
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When the P&T committee met to consider Gossen's promotion, ______presented Gossen's case
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Kost
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Kost's presented Gossen's work as really
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phenomenal
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Gossen's research was in the area of ______theory
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search
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Danzig was opposed to Gossen's _______Views
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Utilitarian
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__________was unprepared to handle the objections to Gossen's work
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Kost
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The strong defense of Gossen's work was presented by
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Spearman
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The illustrations dealing with newspapers & soft drinks dealt with the theory of
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diminishing marginal utility
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Diminishing marginal utility holds true as long as the __________ is specified
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time period
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Newspapers can be very successfully dispensed through machines because they have a _____diminishing marginal utility
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faster
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According to Spearman, advertising has the effect of _________prices
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lowering
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Gossen had succeeded in making contact with 2 of the committee members:
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Morrison Bell & Foster Barrett
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The following committee members voted *for* Gossen
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Oliver Wu, Sophie Ustinov, Calvin Weber
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__________was a book written by Denton Clegg & dealt with the inhabitants of the Santa Cruz Islands
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Mores & Manners Among Melanasians
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Spearman was told of the tragedy by ________
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Leonard Kost
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______was greatly concerned about the impact of the suicide on the university
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Clegg
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Morrison Bell did/did not open the letter sent to him by Gossen
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did not
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After the apparent suicide, two P&T members were murdered
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Morrison Bell, Foster Barret
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_____felt uneasy about the arrest of Melissa Shannon on a charge of murder
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Spearman
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According to Spearman, every major law school has an economist on their faculty (T/F)
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True
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______was very tense about having to testify in the murder trial
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Clegg
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A major piece of evidence used to convict Melissa Shannon was the ______found in the bushes outside Bell's house
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glove
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The ship used to transport the group to Europe was the _______and the specific name of the program they were sponsoring was _____
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QE2, Harvard at Sea
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From the discussion that Spearman was having with Bidney Madison, it appears that Cunard is probably experiencing pure economic (profit or loss)
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profit
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Spearman elected to read some of the published works of his Harvard acquaintances while on the trip (t/f)
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true
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For spearman,____actions were difficult to handle because economists assume that people act _____
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irrational, rationally
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Spearman could not accept the idea that Melissa Shannon murdered Bell & Barrett because the_______ did not seem to outweigh the ________. She would not therefore be maximizing her utility
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benefit, cost
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The person who murdered Gossen, Bell & Barrett was
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Dean Clegg
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Clegg had obviously fabricated data in his book because the market prices he presented for yams & canoes did not present the Malanesians as maximizers (t/f)
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true
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Spearman & Gossen both believed that the Melanesians would spend more time searching for a good price on a _______ than they would on a _____
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canoe, yam
