So-called precommitments are effective ways of fighting:
A. Framing effects
B. Mental accounting
C. Anchoring
D. Self-control problems
D. Self-control problems
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When the price of margarine is $2 per unit, 10 units of butter are demanded. When the price of margarine increases to $6 per unit, 30 units of butter are demanded. What is the cross-price elasticity between the two goods?
A) -1 B) 1 C) 2 D) 5
In the ordered pair (5, 3), 3 is the
a. horizontal location of the point. b. the slope. c. the x-coordinate. d. the y-coordinate.
If an increase in government spending causes an increase in government borrowing, this could induce
A. an increase in interest rates, which would cause private domestic investment to fall. B. an increase in interest rates, which would cause private domestic investment to rise. C. an increase in interest rates but no effect on private domestic investment. D. a decrease in interest rates, which would cause private domestic investment to rise.
What is the gold standard?
(A) A system that uses actual gold coins as a country's money. (B) A system in which a country's money is backed with gold. (C) A money system in which the paper currency is good in more than one country. (D) A currency system in which each dollar is worth 1/20 of an ounce of gold.