When people believe murder is a more common cause of death than stomach cancer is, it illustrates the:
A. Confirmation bias
B. Framing effect
C. Hindsight bias
D. Availability heuristic
D. Availability heuristic
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When a banker accepts a deposit of $1,000 in cash and puts $200 aside as required reserves and then makes a loan of $800 to a new borrower, this set of transactions
A. decreases the money supply by $1,000. B. decreases the money supply by $200. C. does not change the money supply. D. increases the money supply by $200. E. increases the money supply by $800.
Suppose a concert by Lady Gaga and a basketball game played by the L.A. Lakers are substitutes, then which of the following is TRUE?
A) If the price of a ticket to a Lakers game increases, then the demand for Lady Gaga tickets will fall. B) If the price of a ticket to a Lakers game decreases, the quantity of Lakers tickets demanded will increase. C) If the price of a ticket to a Lakers game increases, then the demand for Lady Gaga tickets will remain unchanged. D) The price of a ticket to a Lakers game will always equal the price of a ticket to a Lady Gaga concert.
In contrast to other antipoverty programs, a negative income tax
a. provides incentives to work b. provides more assistance to children c. assists the unemployed d. provides direct in-kind transfers to the most needed e. recognizes the existence of a culture of poverty
A comparative advantage in the production of oil is held by
A. Australia.
B. the United States.
C. both countries.
D. neither country.