The implicit cost of ownership:
A. is a cognitive bias if it goes ignored.
B. leads people to value things more once they possess them.
C. is a nonmonetary opportunity cost that is often overlooked.
D. All of these are true.
D. All of these are true.
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People expect that the exchange rate for the dollar will rise from 90 yen per dollar to 111 yen per dollar in a month. As a result
A) the supply curve of dollars shifts leftward. B) the supply curve of dollars shifts rightward. C) the demand curve for dollars shifts leftward. D) there is a downward movement along the supply curve of dollars.
New Keynesian inflation dynamics can account for sluggish responses of
A) real GDP to variations in aggregate supply. B) real GDP to variations in aggregate demand. C) inflation to variations in aggregate supply. D) inflation to variations in aggregate demand.
Reading a Consumer Reports review of a vacuum cleaner before buying is the same way of dealing with information asymmetry as:
A. an employer requiring a drug test. B. an insurance company offering different deductible-level plans. C. a buyer choosing a used car from a brand dealership. D. a college charging a high tuition relative to other schools.
Critics of the Keynesian view of closing a recessionary gap argue that
a. Keynesians fail to appreciate the self-correcting nature of the economy b. government spending is virtually cost-free because resources are unemployed c. deficit financing places no burden on the economy d. public works programs never continue beyond their usefulness e. deficits are always needed to stimulate the economy