A not-for-profit organization conducts several workshops to prevent drug addiction among teenagers. This is an example of ________
A) indoctrination
B) backward induction
C) anchoring
D) sniping
A
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Explain how the following factors will shift the demand curve for Gillette shaving cream
a. The price of a competitor's shaving cream increases. b. With an increase in unemployment, the average level of income in the economy falls. c. Shaving gels and foams, marketed as being better than shaving creams, are introduced in the market.
If two countries agree to specialize and trade based on comparative advantage, which of the following is most likely to be TRUE?
A) Both of the countries will consume outside their respective production possibilities curves. B) One of the countries will end up receiving all of the gains from trade. C) One of the countries will both consume and produce on its production possibilities curve. D) Only one of the countries will produce on and consume outside its production possibilities curve.
A monopolist's demand curve is
A) perfectly elastic. B) perfectly inelastic. C) of unit elasticity throughout. D) the industry demand curve.
Given a choice between two investments with the same expected payoff most people will:
A. choose the one with the lower standard deviation. B. calculate the variance to assess the relative risks of the two choices. C. be indifferent since the expected payoffs are the same. D. opt for the one with the higher standard deviation.