One major consequence of the overconfidence effect is that:
A. Some people cannot correct a personal trait that might be causing them to fail in many ventures
B. Someone could persist in pursuing a failed policy despite overwhelming evidence of the failure
C. Bad decisions can be made because people will act without pausing to see whether their intuition is correct or not
D. Some people may wrongly believe in their forecasting ability to predict future outcomes of risky investments
D. Some people may wrongly believe in their forecasting ability to predict future outcomes of risky investments
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Suppose Bright Orange is large firm that grows and harvests oranges. Each orange yields 2 ounces of orange juice and exactly one orange peel. Bright Orange sells the orange juice to juice distributors and the orange peels to fragrance companies. The market demand for Bright Orange's oranges is equal to ________.
A) the demand for orange peels only B) the demand for orange juice plus the demand for orange peels C) the demand for orange juice only D) the difference between the demand for orange peels and orange juice
Nominal federal spending is a
a. good indicator of how responsibility the federal government is b. good indicator of the overall economy's performance c. measure of the public's concern for the educational needs of the country d. warning sign that our governmental officials are sometimes out of control e. misleading measure of government's effect, unless it is seen in the context of the country's income
When the price level falls, consumers may feel wealthier and the consumption function will shift upward
a. True b. False Indicate whether the statement is true or false
The motivations of buyers & sellers & their negotiation abilities have __________ in the price formation process
Fill in the blank(s) with the appropriate word(s).