Which of the following would a behavioral economist be most likely to study?
a. how raising price affects demand for new technology products with no known substitutes
b. the effect of consumer equilibrium on a hypothetical transnational marketplace
c. how websites that favor one- or five-star customer reviews influence purchasing decisions
d. the effects of financial debt on the psychological health of consumers and appropriate treatments
c. how websites that favor one- or five-star customer reviews influence purchasing decisions
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A rise in the price level produces ________ the potential GDP line
A) a movement downward along B) a leftward shift of C) a rightward shift of D) a movement upward along E) neither a shift of the potential GDP line nor a movement along
Fill in the blank: An opportunity cost is the ________ opportunity a person sacrifices when making a choice
A) every B) least desirable C) next-best D) strictly financial
Explain how each of the following might make use of the futures market. (a) A lender who is worried that its cost of funds might rise during the term of a loan it has made (b) A speculator who believes strongly that interest rates will rise
What will be an ideal response?
Mention the different aspects of specificity of an asset