Health clubs typically experience an increase in one-year memberships in January, but many new customers cancel their memberships before the end of the year. Which of the following is the best explanation for this behavior?
A) Some people fail to treat their membership fees as sunk costs.
B) Some people are overly optimistic about their future behavior.
C) Some members receive utility from activities they believe are popular.
D) Some health club members suffer minor injuries that prevent them from working out.
B
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Refer to Table 20-14. The percentage change in real average earnings from 1965 to 2010 equals
A) 2.0 percent. B) 19.7 percent. C) 24.6 percent. D) 80.3 percent.
All of the following are reasons a government might choose to protect monopoly rights in an industry except:
A. because it is in the public's interest to do so. B. to benefit insiders. C. to encourage innovation. D. to increase consumer surplus beyond what is achieved through competition.
Firms choose the highest indifference curve they can obtain given the lowest possible budget line
a. True b. False Indicate whether the statement is true or false
Between October 2014 and October 2015, the CPI in Canada rose from 120 to 124 and the CPI in Mexico rose from 210 to 229.1 . What were the inflation rates for Canada and Mexico over this one-year period?
a. 3.3 percent for Canada and 9.1 percent for Mexico b. 3.3 percent for Canada and 8.3 percent for Mexico c. 3.2 percent for Canada and 9.1 percent for Mexico d. 3.2 percent for Canada and 8.3 percent for Mexico