In the 19th century, Russian peasants noticed that during cholera epidemics there were lots of doctors around; in an attempt to eliminate cholera, they killed all the doctors. This is an example of
a. mistaking correlation with causation.
b. the fallacy of opportunism.
c. excessive abstraction.
d. rationality.
e. marginal analysis.
a
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In monopolistic competition, the demand curve for a firm's product is negatively sloped because of
A) barriers to entry. B) no barriers to entry. C) product differentiation. D) economies of scale.
Research shows that people rearrange their income from different sources to reduce their:
A. tax rate. B. necessary work hours. C. total bill. D. tax burden.
Marginal land is on the borderline of being used in production
a. True b. False Indicate whether the statement is true or false
Status-quo bias is:
A. when people actively make decisions to change something, even if it is fairly difficult to do so. B. a type of mental barrier to saving. C. not overcome in the SMarT program because saving is the default option. D. when people have a negative view on the status quo.