________ is the general resistance to change, often stemming from loss aversion.
A. Anchoring and adjustment
B. Regression to the mean
C. Status quo bias
D. The present aim standard of rationality
Answer: C
You might also like to view...
National defense is an example of a ________
A) public good B) natural monopoly good C) common resource D) private good
According to utility theory, consumer purchase decisions are made such that
A. the difference between the value of the marginal utility of the last unit purchased and the price paid is maximized. B. the total utility from consuming the good is less than the marginal utility of the last unit consumed. C. the value of the ratio of marginal utility to price for the last units purchased and consumed is equal. D. the total utility of the last unit purchased is equal to the price of that unit.
Figure 4.4 illustrates the supply of tacos. A technological advancement which makes tacos cheaper to produce would most likely cause a movement from
A) point a to point c. B) point c to point a. C) S0 to S2. D) S2 to S0.
If the exchange rate changes from 1.5 euros per dollar to 1.0 euro per dollar, the euro has
A) depreciated against the dollar. B) appreciated against the dollar. C) fallen inversely in value. D) depreciated against the euro. E) appreciated against the euro.