According to the representative heuristic, people are more likely to believe that something belongs to a given category if:
A. people believe that they themselves are members of the category.
B. it shares characteristics with the stereotypical members of that category.
C. people can recall other members of the category.
D. it is unlike the stereotypical members of that category.
Answer: B
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Along the short-run Phillips curve SRPC0 the expected inflation rate is
A) 7 percent. B) 3 percent. C) 6 percent. D) an amount that can be determined from the figure, but none of the above answers is correct. E) an amount that cannot be determined from the figure.
Which of the following statements is false?
A. The Wilshire 5000 is a stock index that consists of the stocks of about 6,500 firms. B. Instead of buying a mutual fund that consists of various stocks picked by a fund manager you can buy a mutual fund that consists of the stocks that make up a particular stock index. C. The term Sypders stands for "Standard & Poors Direct Receipts." D. When an investor buys Spyders they are said to "buy the market."
Which of the following is an outcome of advertising for a monopolistically competitive firm?
a. Long-run average costs shift upward. b. The firm's demand curve keeps the same slope and shifts inward. c. Long-run average costs shift downward. d. The firm's demand curve becomes flatter and shifts inward.
How much is the MPS?
