Susie doesn't buy ice cream this week at the grocery store because she intends to start a diet in a few days. Her behavior is an example of:
A. a commitment device.
B. status quo bias.
C. the endowment effect.
D. positive framing.
A. a commitment device.
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The price of one bedroom apartments in Cheyenne increased from $55,000 to $65,000 and the quantity of apartment for sale increased from 25 to 30. Using the midpoint method, the price elasticity of supply for apartments in Cheyenne is equal to
A) 0.916. B) 0.75. C) 1.09. D) 2.18. E) 0.08.
The sequence of events following an increase in the federal deficit would be higher interest rates, a(n)
a. depreciating dollar, and a larger current account deficit. b. depreciating dollar, and a smaller current account deficit. c. appreciating dollar, and a larger current account deficit. d. appreciating dollar, and a smaller current account deficit.
Refer to the information provided in Figure 2.4 below to answer the question(s) that follow.
Figure 2.4According to Figure 2.4, Point F
A. is efficient and attainable. B. cannot be produced with the current state of technology. C. represents underallocation of resources. D. represents what the people want.
Those who believe that wages adjust quickly to clear the labor market also believe that
A. the AS curve is upward sloping. B. the AD curve is flat. C. the AD curve is steep. D. the AS curve is vertical.