In behavioral economics, the term salience refers to
A) relevance to the problem being investigated.
B) people only consider information when it is conveyed in a subtle manner.
C) how an experiment is designed.
D) people consider information when it is presented in an "eye grabbing" manner.
D
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If a corporate bond with face value of $8,000 has an interest rate of 4 percent paid once a year for a term of 30 years, what is the size of the coupon payment?
A) $320 B) $2,000 C) $8,000 D) $9,600
A person with a diminishing marginal utility of income
A) will be risk averse. B) will be risk neutral. C) will be risk loving. D) cannot decide without more information
What does a production possibilities curve show?
What will be an ideal response?
Which of the following statements best describes the study of economics? Economics studies how
A) to organize production so that scarcity does not occur. B) firms make profits. C) we make choices in the face of scarcity. D) to create incentives so that scarcity does not exist. E) businesses reach decisions.