Amanda is from Vermont and visiting California for the first time. At home, Amanda always goes jogging early in the morning because it's hottest in the early afternoon. Not knowing what to expect of the weather in California, she decides to go jogging in the early morning during her visit. This decision is an example of:
A. loss aversion.
B. status quo bias.
C. a heuristic.
D. positive framing.
C. a heuristic.
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Checking account deposits are counted in M1, but savings account deposits are not because
A) checking deposits can be used for payment; cash in savings cannot. B) checking deposits are a form of consumption; savings deposits are a form of investments. C) Trick question! Neither type is counted in M1. D) Trick question! Both deposit types are counted in M1.
The major advantage of the sole proprietorship is its
a. ability to raise funds. b. lack of distinction between business and owner. c. provision of continuity in the business in case of death. d. flexible management.
The larger the marginal propensity to save, other things constant, _____
a. the larger the marginal propensity to consume b. the larger the multiplier c. the flatter the consumption function d. the flatter the saving function e. the steeper the consumption function
When the marginal utility of the first good drops lower than that of a second good, it is rational for a consumer to ______.
a. buy mostly the first good and a little of the second good b. buy mostly the second good and a little of the first good c. buy only the second good until the marginal utility equalizes d. buy only the first good until the marginal utility equalizes