Researchers who make judgements in their experiments based on what is salient rather than on actual probabilities err by using a representativeness heuristic
Indicate whether the statement is true or false
F
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All homogeneous functions (of any degree) are homothetic but not all homothetic functions are homogeneous (of some degree).
Answer the following statement true (T) or false (F)
Which of the following should be expected if the tax for a certain good increases?
A. price of the good increases. B. the composition of the commodity bundle is distorted. C. the budget line pivots out. D. the composition of the commodity bundle is distorted and the price of the good increases.
Which of the following measures of globalization was not affected during the aftermath of the terrorist attacks in the United States on September 11, 2001?
a. World trade b. Global foreign direct investment c. International travel and tourism d. International telephone calls e. Political engagement
Which of the following statements is correct?
A) The Social Security program funnels transfers from retired individuals to the youngest children of low-income families. B) Social Security is an entitlement which is available to everyone, including those who have not contributed to the fund during their active work years. C) Social Security benefits are received by people who had contributed to the fund during their active work years. D) As a public transfer payment, Social Security benefit is available only to the poor.