Typically, when people use anchoring and adjustment to estimate something, the importance of ________ in influencing their assessment is too large.
A. the adjustment
B. the anchor
C. neither the anchor nor the adjustment
D. both the anchor and the adjustment
Answer: B
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As a result of a decline in the expected rate of return on investment, GDP would not have to fall if the government __________ taxes or __________ government spending
A) increased; increased B) increased; decreased C) decreased; increased D) decreased; decreased
In Wall Street Jargon, a "Bear Market" typically means
A) stock prices have declined by at least 20%. B) stock prices have declined by at least 50%. C) stock prices have risen by at least 20%. D) stock prices have risen by at least 50%.
During the 1970s, demand-management policy: a. continued to be highly successful in curing the economy's economic problems
b. was found to be highly unsuitable in periods of stagflation such as the decade of the 1970s. c. was so unsuccessful that economists advised a return to the pre-World War II philosophy of fiscal policy. d. was unsuccessful because automatic stabilizers no longer influenced the economy. e. was unsuitable because it affected aggregate supply more than aggregate demand.
If the government puts price controls on medical care, this will increase the supply of affordable care in the United States
a. True b. False Indicate whether the statement is true or false