Politicians often highlight the plight of a single individual as a reason to support a particular project or agenda. In this case, politicians are often engaged in
A) the Allais effect.
B) the Byrd effect.
C) framing.
D) prospect theory.
C
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Trade will be beneficial for a nation with a comparative advantage in producing a certain product
Indicate whether the statement is true or false
Marginal product equals 0 when:
A) average product equals zero. B) total product equals average product. C) average product reached its minimum value. D) total product reaches its maximum value.
When a start-up company meets with success and the entrepreneur needs to achieve economies of scale, it would not make economic sense to consider an IPO
a. True b. False
If the price elasticity of demand for a good is inelastic, a price change causes:
A. an infinite change in quantity demanded. B. a zero change in quantity demanded. C. a more than proportionate change in quantity demanded. D. a less than proportionate change in quantity demanded.