One explanation for the status quo bias is an aversion to loss
a. True
b. False
Indicate whether the statement is true or false
True
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When government receipts exceed total government spending during a fiscal year, the difference is
a. a budget surplus. b. a budget deficit. c. the national debt. d. automatically refunded.
Using Figure 2 above, suppose that the economy started at PAE2. A potential change that could cause the economy to go from PAE2 to PAE1 might be:
A. consumption increases. B. export increase. C. government spending decreases. D. investment increases.
A person who starts practicing poisonous snake charming after signing a contract with a health insurance company is an example of
A) moral hazard. B) adverse selection. C) signaling. D) screening.
For which of the following goods is the price least likely to be flexible?
A. Airline tickets B. Beer C. Milk D. Newspapers