__________is business conducted over the internet.
Fill in the blank(s) with the appropriate word(s).
Ans: e-commerce
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Behavioral economists examine choices that consumers make that are not economically rational
Economists generally assume that people are rational; that is, they weigh the benefits and costs of an action and choose an action only if the benefits outweigh the costs. Why do consumers not act rationally when the result is that they make themselves worse off?
The CPI overestimates inflation because
a. it often ignores the invention of new goods. b. it always includes discount stores. c. it allows substitution from more expensive goods to cheaper goods. d. all of the above.
Suppose that the Town of Mapledale is considering hiring an additional firefighter. The expected benefit is estimated to be worth $5 for each of Mapledale's 15,000 residents. What should the city do?
a. Hire the firefighter because additional fire protection is priceless. b. Hire the firefighter if the cost of the new firefighter is less than $75,000. c. Do not hire the firefighter because the costs exceed the benefits. d. Hire the firefighter only if the benefit to the residents exceeds $75,000.
All else being equal, an increase in government spending would shift the ______ line to the ______, causing interest rates to _______ and the trade balance to _______.
A) LM; right; fall; fall B) IS; right; rise; rise C) LM; left; rise; rise D) IS; right; fall; fall