Answer the following statements true (T) or false (F)
1. Automatic payroll deductions help people to fight their time inconsistency problem with regards to saving.
2. Self-control problems, say among people on a diet, is caused by the cognitive bias known as time inconsistency.
3. Sellers' sense of fairness in pricing can sometimes lead them to pricing-decisions that do not maximize profits.
4. Sellers' sense of fairness is always consistent with the notion of rational self-interest of neoclassical economics.
5. The idea of "nudging" people into certain choices is one major contribution of behavioral economics to policy-making.
1. TRUE
2. TRUE
3. TRUE
4. FALSE
5. TRUE
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In the short run, a monopolistically competitive firm chooses
A) both its price and its quantity. B) its price but not its quantity. C) its quantity but not its price. D) neither its price nor its quantity.
A stock is an obligation issued by a corporation that promises the holder to receive fixed annual interest payments and payment of the principal upon maturity
a. True b. False Indicate whether the statement is true or false
Which is considered a factor of production?
a. An auto plant b. A firm's common stock c. Money in a checking account d. U.S. savings bonds
In 2016, ________ of the uninsured were younger than age 35
A) about 10 percent B) less than one-third C) over half D) almost 85 percent