According to the ________, if Carla has many of the characteristics of a stereotypical basketball player (for example, she is tall), then people will be more likely to assume she plays basketball.
A. representative heuristic
B. availability heuristic
C. adaptive rationality standard
D. Weber-Fechner law
Answer: A
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With everything else the same, which of the following would increase the demand for U.S. dollars in the foreign exchange market?
I. a rise in the U.S. interest rate II. a fall in interest rates in foreign countries III. a rise in the expected future exchange rate A) I only B) I and II only C) I and III only D) I, II, and III
The entrance of the U.S. into the Korean War in June of 1950 led to:
a. deflation. b. an increase in the unemployment rate. c. a long and deep recession. d. a surge in consumer demand. e. All of the above.
Speculative demand for money is a(n):
a. positive function of prices. b. inverse function of prices. c. positive function of interest rates. d. inverse function of interest rates. e. function of unexpected needs.
If the Fed wants a tighter monetary policy, it might:
A. sell government securities to reduce the federal funds rate. B. sell government securities to increase the federal funds rate. C. buy government securities to reduce the federal funds rate. D. buy government securities to increase the federal funds rate.