The certainty effect occurs when people put ________ weight on outcomes that they consider to be ________ relative to ________ outcomes
A) excessive; certain; risky.
B) low; certain; risky.
C) low; recurring; rare.
D) excessive; risky, certain.
A
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Households and firms in the U.S. economy interact with those in the rest of the world in the ________ market and in the ________ market
A) goods; factor B) goods; financial C) government; goods D) financial; factor E) firm; government
If there is a decrease in foreign demand for U.S. goods due to a recession in Europe
A) the U.S. aggregate demand will shift right. B) the U.S. aggregate demand will shift left. C) the U.S. aggregate demand will not be affected. D) the U.S. aggregate demand will become steeper.
The depression of the 1930s was
(a) the first depression in the nation's history. (b) not the first but the most serious depression in the nation's history. (c) not the first depression in the nation's history and no more serious than some of the others. (d) not as serious as the depressions of the 1840s and 1870s.
The supply and demand for wheat is given by QS = 200 + .2A + p and QD = 500 - p, where p is the price of wheat and A is the amount of rainfall (inches per year). The effect of an incremental increase in rainfall on equilibrium will be
A) a decrease the price of wheat by 10¢. B) a decrease the price of wheat by 20¢. C) an increase in the price of wheat by 20¢. D) an increase in the price of wheat by 10¢.