A movement along the supply curve is caused by a change in a good's own price.
Answer the following statement true (T) or false (F)
True
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Recency bias refers to a psychological bias whereby people believe that recent past trends and patterns will continue in the future
How would recency bias explain why investors chase returns? Does return-chasing lead investors to realize a higher rate of return on investments?
The percentage of the population in the two higher income classes (defined by Pew as having more than 200% of median family income) declined from more than 60% in the 1970s to 50% in 2015. Economists see the decline in the middle class as a
A. consequence of the decline in growth, not a cause of it. B. Both a cause and a consequence of the decline in growth. C. cause of the decline in growth, not a consequence of it. D. Unrelated consequence to the decline in growth.
?If an individual is living in a period of continued high inflation on a fixed income, then:
a. the cost of the goods and services he or she buys decreases and his or her real income increases. b. the cost of the goods and services he or she buys increases and his or her real income increases. c. the cost of the goods and services he or she buys increases, but his or her real income remains the same. d. the cost of the goods and services he or she buys increases and his or her real income decreases. e. the cost of the goods and services he or she buys decreases and his or her real income remains the same.
The budget set is:
A. all the points on the budget line. B. the area below the budget line. C. the endpoints of the budget line. D. all the points on the budget line and the area to the left of the budget line.