Anchoring is a type of ______ bias.
a. compartmentalizing
b. endowment
c. framing
d. marginal utility
c. framing
You might also like to view...
According to Simon Kuznet's (1958) research, the pattern of immigration in 1865–1914
(a) showed long swings but not the short-term business cycle fluctuations. (b) showed no long swings in the 1820–1860 period, but did show the business cycle. (c) showed both business cycle patterns and long swing patterns. (d) unlike 1820–1860, showed neither short cycles nor long swings, but was instead a steady surge after the Civil War ended.
If the quality of items improves over time, the CPI ________ inflation
a. overstates b. understates c. equals d. approximates
Dumping occurs when, in a foreign market, a good is sold
A. below its cost of production or below the price in that market. B. at a price above the equilibrium price. C. below its nominal price. D. at a discount below the list price.
Use the following information to answer the question below. It is the custom for paper mills located alongside the Layzee River to discharge waste products into the river. As a result, operators of hydroelectric power-generating plants downstream along the river find that they must clean up the river's water before it flows through their equipment. In the situation described above, we would expect an
A. underproduction of paper in the mills. B. overproduction of paper in the mills. C. attainment of allocative efficiency in the market. D. external cost resulting from the production of hydroelectric power.