When shopping online, as part of the check-out process, companies often have a box checked automatically that states you want to receive promotional e-mails from them. The directions instruct you to uncheck the box if you do not wish such correspondence. This practice is a good example of:
A. status-quo bias.
B. endowment bias.
C. endowment effect.
D. time inconsistency.
A. status-quo bias.
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The level of output at which all economies of scale have been exhausted is known as
A) constant returns to scale. B) optimal economic size. C) minimum efficient scale. D) the economically efficient output level.
Which of the following pairs of goods is LEAST likely to be a pair of complements?
A) gasoline and vehicles B) coffee and sugar C) beer and wine D) razors and razor blades
Assuming wages are indexed to inflation, if prices rose by 1.4 percent this month and your last month's wage was $1,000, your wage this month would be $1,014
a. True b. False Indicate whether the statement is true or false
A binding minimum wage is a(n) ______ for labor.
Fill in the blank(s) with the appropriate word(s).