Which of the following cognitive biases refers to people's tendency to attribute their successes to personal ability and effort, and failures to forces outside their control?
A. Overconfidence effect.
B. Confirmation bias.
C. Self-serving bias.
D. Hindsight bias.
Answer: C
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Average variable cost is equal to
A) average total cost minus average fixed cost. B) average total cost multiplied by output. C) total cost divided by output. D) the change in total cost divided by the change in output.
Are checks money?
What will be an ideal response?
An effective price ceiling occurs when
A) the government sets a maximum price for a good above the equilibrium price. B) the government sets a minimum price for a good above the equilibrium price. C) the government sets a minimum price for a good below the equilibrium price. D) the government sets a maximum price for a good below the equilibrium price.
When the rate of interest (or price of capital) increases, the
a. quantity demanded of loanable funds by the firm will decrease b. quantity demanded of loanable funds by the firm will increase c. firm's MRP of capital increases d. firm's MPP of capital increases e. firm's MRP of capital decreases