________ is the phenomenon that unusual events are likely to be followed by more nearly normal ones.
A. Loss aversion
B. Anchoring and adjustment
C. Regression to the mean
D. The present aim standard of rationality
Answer: C
Economics
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Rent controls and controls on other prices often aggravate the very problem they are intended to solve.
Answer the following statement true (T) or false (F)
Economics
Refer to Figure 4-1. If the market price is $2.50, what is Kendra's consumer surplus?
A) $9.00 B) $7.50 C) $1.50 D) $0
Economics
The price of leisure
A) is the same for everyone. B) depends on the number of hours worked. C) is measured as foregone earnings. D) is immeasurable.
Economics
If Qs = -20 + 10p, and Qd = 400 - 20p, what is the equilibrium quantity?
A) 440 B) 146.6 C) 360 D) 120
Economics