Rita, a minor, misrepresents her age as twenty-one and signs a contract with Sporty Motors to buy a sport utility vehicle (SUV. In most states, Rita may
a. ?disaffirm the contract.
b. ?not disaffirm the contract due to the misrepresentation.
c. ?disaffirm the contract only if she makes full payment.
d. ?disaffirm the contract only if she returns the SUV in good condition.
Answer: a. ?disaffirm the contract.
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____ occurs when people's subjective confidence in their decision making is greater than their objective accuracy. For example, Sara thinks she is a superb writer and editor, but her reports are always filled with typos, grammatical errors, and sentence fragments.
A. Confidence bias B. Overconfidence bias C. Hindsight bias D. Predisposition bias E. The tunnel vision effect
An economy has fifty households, all of which have incomes of $25,000 each in period 2. The twenty-five poor households have incomes of $10,000 each in period 1, while the twenty-five rich households have incomes of $20,000 each in period 1. Assume that the price of the good is $1 in both periods. Suppose that each household decides that its consumption in period 1 will equal 50 percent of the present value of its income from both periods.
a.Calculate the present value of income for poor households as a function of the interest rate. Calculate the amount that poor households will spend on consumption, as a function of the interest rate. Calculate the amount that poor households will save as a function of the real interest rate. Show your work. b.Calculate the present value of income for rich households as a function of the interest rate. Calculate the amount that rich households will spend on consumption, as a function of the interest rate. Calculate the amount that rich households will save as a function of the real interest rate. Show your work. c.Given the equations you calculated for savings for each type of household and assuming that the households borrow from each other, find the equilibrium value of the interest rate. Show your work. What will be an ideal response?
What are human resource management systems and how they can help human resource managers make decisions?
What will be an ideal response?
Self-service retailers serve customers who are willing to perform their own locate-compare-select process to save time or money
Indicate whether the statement is true or false