According to the Kahneman-Tversky value function,
A. small gains should be combined with large gains.
B. small gains should be subtracted from large losses.
C. small gains should be segregated from large losses.
D. small losses should be segregated from large losses.
Answer: C
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In cities with rent controls, the actual rents paid can be ________ than the legal maximum. One explanation for this is because there is a ________ of apartments, tenants are ________
A) lower; shortage; rarely willing to pay rents lower than the law allows B) lower; surplus; never willing to pay rents below the legal maximum C) higher; shortage; often willing to pay rents higher than the law allows D) higher; surplus; often forced to pay rents higher than the law allows
Which one of the following statements about deflation is false?
a. Deflation is good for lenders. b. Deflation is bad for borrowers. c. Deflation boosts people's real incomes. d. Deflation raises the burden of carrying debt. e. During the last half of the 20th century, the U.S. economy has experienced deflation for more years than it experienced inflation.
Which statement concerning President Nixon's wage and price controls is not true?
a. They were designed to control inflation . b. As soon as they were lifted, their impact on the economy proved to be ineffective. c. They prohibited wage and price increases for 90 days. d. They were voluntary. e. They distorted free market signals.
If supply increases, the equilibrium price will rise and the equilibrium quantity will fall
a. True b. False Indicate whether the statement is true or false