"Heuristics" used by the human brain are one of the reasons why:
A. Our preferences are quite stable and consistent
B. Neoclassical economic models accurately predict human behavior
C. Human perception is susceptible to context and prone to error
D. The utility-maximizing model of decision-making is precise
C. Human perception is susceptible to context and prone to error
You might also like to view...
When the nominal interest rate increases, the
A) demand for money increases and the demand for money curve shifts rightward. B) demand for money decreases and the demand for money curve shifts leftward. C) quantity of money demanded increases and there is a movement upward along the demand for money curve. D) supply of money curve shifts rightward. E) quantity of money demanded decreases and there is a movement upward along the demand for money curve.
Assuming that generic brands are inferior goods, an increase in consumer income, other things being equal, will cause a(n):
a. leftward shift in the demand curve for generic goods. b. downward movement along the demand curve for generic goods. c. rightward shift in the demand curve for generic goods. d. upward movement along the demand curve for generic goods.
Dan Unowsky assigns his computer repairers four tasks: customer service, replacement of broken parts, clean-up of equipment, and sale of used equipment to customers. If the company provides a 10 percent commission for all sales made by employees, then
A. employees will clearly emphasize the clean-up task. B. replacement of broken parts will clearly be favored by employees. C. employees may ignore other tasks when faced with a potential sale. D. the entire production process will be speeded up by the sales incentive.
What is frictional unemployment?
What will be an ideal response?