Sitting through a terrible movie till the end because you already bought the ticket is an example of:
A. sunk cost fallacy
B. making a decision at the margin.
C. rational behavior.
D. negative utility endorsement.
A. sunk cost fallacy
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A law requiring the government to balance its budget in each year would serve as an automatic destabilizer
Indicate whether the statement is true or false
An externality is an example of a market failure
Indicate whether the statement is true or false
The quantity theory of money ________
A) is the product of classical economists B) links total income to a country's supply of money C) is derived from the equation of exchange D) all of the above E) none of the above
Would a country with an absolute advantage in the production of all goods and services trade with other countries? Explain
What will be an ideal response?