People's tendency to prefer something that will yield immediate benefits over something whose benefits come later is called by behavioral economists as:
A. Myopia
B. Mental accounting
C. Anchoring
D. Framing
A. Myopia
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Which of the following categories of business cycle theories includes the theory of “real business cycles”?
a. physical b. monetary c. psychological d. spending and saving
_____ school of thought would most likely be associated with the statement: "When wages are rigid, changes in output result in small changes in goods market prices and a relatively flat aggregate supply curve."
a. The traditional Keynesian b. The modern Keynesian c. The Monetarist d. The classical e. The new classical
What country has the greatest degree of globalization?
a. United States b. Germany c. South Korea d. China
A policymaker in favor of stabilizing the economy would be likely to believe
a. recessions are a waste of resources.
b. economies must suffer through the booms and busts of the business cycle.
c. the long policy lags make implementing policy changes in response to recession too risky.
d. policy increases the magnitude of economic fluctuations.