Laws restricting gambling can be seen as an attempt to limit the consequences of:
A. anchoring and adjustment.
B. status quo bias.
C. impulse control problems.
D. regression to the mean.
Answer: C
You might also like to view...
If the cost of capital decreased to 1%, does the firm invest in the new technology?
a. Yes because the NPV>0 b. Yes because the NPV=0 c. Need information on the marginal benefits and costs d. No because the NPV<0
When there is a positive return to monopsony power, this means
a. many employers share economic profits from exploiting workers b. workers have been successful in forming unions c. labor markets are perfectly competitive d. workers are paid less than in a competitive labor market e. wages are equal to the marginal revenue product of labor
The fallacy of composition is the fallacious view that
a. economic activity will benefit everyone. b. what is true for the individual will also be true for the group. c. it is possible for the whole to be greater than the sum of the individual parts. d. association does not necessarily indicate causation.
The mid-point method of calculating price elasticity of demand:
A. measures the percentage changes relative to a point midway between two points on a demand curve. B. measures the percentage change relative to a point midway between demand and supply. C. measures the absolute change relative to a point midway between two points on a demand curve. D. None of these is true.