The following are major observations made by behavioral economists regarding human behavior, except:
A. Workers tend to spend and consume too much in the present, thus not saving enough for retirement
B. People tend to stick with the default option when faced with various alternatives
C. People behave in ways that seem irrational at first glance, but are really rational
D. People often intentionally act in irrational ways
D. People often intentionally act in irrational ways
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Transfer payments are not included in GDP because
A) their market value cannot be accurately determined. B) they do not generate additional income. C) they are not purchases of goods or services. D) their value is included in government expenditure.
One reason that firms hire labor at the point where w = MPN is
A) if w < MPN, the cost (w) of hiring additional workers exceeds the benefits (MPN) of hiring them, so they should hire fewer workers. B) if w > MPN, the cost (w) of hiring additional workers is less than the benefits (MPN) of hiring them, so they should hire more workers. C) if w < MPN, the cost (w) of hiring additional workers equals the benefits (MPN) of hiring them, so they have the right number of workers. D) if w > MPN, the cost (w) of hiring additional workers exceeds the benefits (MPN) of hiring them, so they should hire fewer workers.
An unexpected rise in GDP growth should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down
The supply of hydro electric power:
a. can be varied infinitely in the short run. b. remains fixed in the long run. c. decreases with an increase in price in the short run. d. reduces in the future due to continuous consumption today. e. increases with an increase in price in the long run.