There are two grocery stores in the new neighborhood that you have moved into. Because you did not know which store is better, you decided to go to the one that is relatively crowded. Your behavior is an example of ________
A) herding
B) anchoring
C) signaling
D) sniping
A
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Growing technology has provided increased opportunities for higher-skilled workers
Indicate whether the statement is true or false
The figure above shows the market for college education in the United States. The efficient quantity of college education is ________ students per year
A) 10 million B) 12 million C) 17 million D) 18 million E) 14 million
If Dana can paint his house faster than Luke, a professional house painter, then:
A. Dana has a comparative advantage in house painting. B. Dana has an absolute advantage in house painting. C. Luke has a comparative advantage in house painting. D. Luke has an absolute advantage in house painting.
Answer the following statements true (T) or false (F)
1) If DI is $275 billion and the APC is 0.8, we can conclude that saving is $55 billion. 2) If the MPC is constant at various levels of income, then the APC must also be constant at all of those income levels. 3) The average propensity to consume is defined as income divided by consumption. 4) 1 - MPC = MPS. 5) If the Hennige family's marginal propensity to consume is .70, then it will necessarily consume seven-tenths of its total income.