When you care more about what your friends think of a good or service than what experts or other consumers in general think, you are making the error of ______.
a. assuming complete self-control
b. choosing options that are positively framed
c. giving too much weight to a small sample
d. valuing your personal property too highly
c. giving too much weight to a small sample
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Based on the figure below. Starting from long-run equilibrium at point C, an increase in government spending that increases aggregate demand from AD to AD1 will lead to a short-run equilibrium at point ________ creating _____gap.
A. D; an expansionary B. B; no output C. B; expansionary D. A; a recessionary
User reviews of products on store websites that reassure buyers of the quality is an example of:
A. screening. B. building a reputation. C. statistical discrimination. D. None of these statements is true.
All of these factors create economies of scale, except
a. Specialization and Division of Labor b. Technological Factors c. Increase in advertisement costs d. Quantity discounts
The demand for labor curve is identical to the:
a. total wage cost curve. b. marginal resource curve. c. total revenue curve. d. marginal revenue product curve. e. marginal revenue curve.