The decision to smoke cigarettes is subject to present bias because there is a temporal mismatch between ________ and ________.
A. the present benefit; the present cost
B. the present benefit; the future cost
C. the future benefit; the present cost
D. the future benefit; the future cost
Answer: B
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According to the Congressional Budget Office, from the 1970s to the 2000s, the natural rate of unemployment in the United States:
A. remained relatively stable. B. increased. C. fell. D. fell to zero, and has since become negative.
A firm is likely to pay higher efficiency wages when:
A) it is easy to monitor workers. B) it is not easy to monitor workers. C) workers do not have a tendency to shirk at work. D) the minimum wages are set above the equilibrium wage rate.
If a retail food chain merged with a meat packing company, this would be an example of a
A) horizontal merger. B) conglomerate merger. C) vertical merger. D) diagonal merger.
A country will not trade unless:
A. it has an absolute advantage in production. B. the value received is greater than its domestic opportunity cost. C. domestic industries are protected from harm. D. the other nation is a close ally.