The ____ heuristic observes that when facts are at issue the correct answer is often the one people recognize, and the incorrect answer is the one they do not
a. representative
b. availability
c. recognition
d. elimination
C
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Deflation means a decrease in:
a. homes, autos, and basic resources. b. the prices of all products in the economy. c. the general level of prices in the economy. d. the rate of inflation.
The income-expenditure multiplier arises because one person's additional spending becomes another person's additional income that will generate additional:
A. cyclical unemployment. B. spending. C. autonomous expenditure. D. menu costs.
Which of the following helps explain the problem of disappearing political discourse?
A. Moral hazard B. The lemons model C. Statistical discrimination D. Adverse selection
Pa and Pb represent the prices that citizens (a) and (b), the only two people in this nation, are willing to pay for additional units of a quantity (Qc) of the public good. Qs represents the quantity of the public good supplied by government at each of the collective prices.QcPaPbQs1$4$552344324342325121Refer to the above information. In equilibrium, the marginal benefit and marginal cost of the public good will be:
A. $5. B. $3. C. $7. D. $6.