Behavioral economists have found that one major explanation for the inter-country differences in participation rates in organ-donation programs is the:
A. Anchoring effect
B. Mental accounting effect
C. Status quo bias
D. Confirmation bias
C. Status quo bias
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The owner of a proprietorship has ________ liability and ________ required to use all of his or her entire wealth to pay for the firm's losses
A) limited; might be B) limited; is not C) unlimited; might be D) unlimited; is not
Refer to the table below. If at the current advertising level, A = $10,000, B = $15,000, and C = $8,000, to maximize profit, which of the following should the firm do?
The table above shows the current costs for a firm to advertising on the radio, television, and newspaper.
A) The firm should decrease its advertising on the radio and increase its advertising in newspapers.
B) The firm has optimally allocated their advertising budget, but that does not guarantee that they have maximized their profits.
C) The firm should decrease its advertising on the radio and increase its advertising on television.
D) The firm has optimally allocated their advertising budget, which guarantees they have maximized their profits.
A country running a current account deficit over a long time is likely to see its exchange rate:
A. the rate can rise, fall, or hold steady; the current account and the exchange rate are not linked. B. appreciate. C. hold steady. D. depreciate.
A budget deficit is best defined as the
A. shortage of spending power created by a government spending cut. B. shortage of spending power created by a tax increase. C. accumulation of past debt that has not been covered by taxes. D. amount by which a government’s expenditures exceed receipts during a specific time period.