"Throwing good money after bad" is also known as the _____ effect
a. anchoring
b. sunk-cost
c. status quo
d. familiarity
e. overconfidence
b
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"Tips" published in leading commercial or financial publications are unlikely to lead to profitable trades because
A) only wealthy individuals can buy stocks in the volume necessary to take advantage of tips. B) whatever is gained by trading on the basis of tips will be taxed away by the government. C) the news will already be reflected in the market prices of the assets. D) the news contained in the tips is usually inaccurate.
A subsidy in an industry would result in: a. an increase in consumer surplus. b. an increase in producer surplus c. both (a) and (b)
d. none of the above.
The economizing problem is essentially one of deciding how to make the best use of
a. limited resources to satisfy limited wants. b. unlimited resources to satisfy limited wants. c. limited resources to satisfy virtually unlimited wants. d. unlimited resources to satisfy unlimited wants.
Economists develop theories of the ______________ of individuals (consumers, workers) and institutions (businesses, governments) engaged in the production, exchanged, and consumption of goods and services.
a. behavior b. demand c. interest d. investment