Suppose you were asked, "Can you guess the height of the tallest living man? Is it more than 8 feet?" When people suggest an answer in the question they ask, it is a form of:
A. rule of thumb.
B. time inconsistency.
C. anchoring.
D. positive framing.
Answer: C
Economics
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If nominal GDP rises we can say that
A) production has risen and prices remain constant. B) prices have risen and production remains constant. C) production has fallen and prices have risen. D) production has risen or prices have risen or both have risen.
Economics
Figure 4-24
Refer to . The per unit burden of the tax on buyers is
a.
P3 - P1.
b.
P3 - P2.
c.
P2 - P1.
d.
Q2 - Q1.
Economics
Ceteris paribus means allowing all things to change.
a. true b. false
Economics
100 shares of stock in General Motors is considered which type of resource?
A. land B. labor C. capital D. It is not a resource.
Economics