An elimination heuristic makes the choice on the basis of all the categories in which the events differ
Indicate whether the statement is true or false
F
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From 1980 through 2010, the debt-to-GDP ratio in the United States
A) is considered high by U.S. historical standards. B) has more than quadrupled. C) has slowly declined. D) has remained about average compared to countries in the OECD.
Goods whose benefits to society are not diminished as more people consume them and whose benefits cannot be withheld from anyone are
a. impossible since resources are limited b. examples of negative externalities c. public goods d. typically food and other necessities e. provided by free markets to free riders
The figure illustrates the demand for and supply for jeans. Suppose jeans are a normal good and people's incomes increase
At the initial price of $50 for a pair of jeans, after the increase in income the quantity demanded is ________ than the equilibrium quantity and there is a ________ of jeans. A) greater; surplus B) greater; shortage C) less; surplus D) less; shortage
Refer to Table 18-1. Suppose a series of votes are taken in which each pair of alternatives is considered in turn. If the vote is between allocating funds to education subsidies and increased border security
A) Jasmine and Ivy vote for increased border security, Rose votes for education subsidies, and increased border security wins. B) Ivy and Jasmine vote for education subsidies, Rose votes for increased border security, and education subsidies wins. C) Jasmine and Rose vote for education subsidies, Rose votes for increased border security, and education subsidies wins. D) Ivy and Rose vote for increased border security, Jasmine votes for education subsidies, and increased border security wins.