Researchers have found that the systematic mistakes that people make in their decision making include a lack of confidence in their own abilities
a. True
b. False
Indicate whether the statement is true or false
False
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Use the information below to explain adjustments that move the economy to a long-run equilibrium. Assume that firms and workers have adaptive expectations
The current unemployment rate = 7%. The natural rate of unemployment = 5.5%. Last year's inflation rate = 5%. This year's inflation rate = 4%.
The largest rent subsidy program provides what is called ______
a. Section 6 housing. b. Section 8 housing. c. public housing d. AFCD housing
In the long run, what level of economic profits can a monopolistic competitor expect to receive?
A) positive B) zero C) negative D) either negative or positive, depending on the demand for its product and its costs
If the price of a hamburgers increases, the substitution effect works to
a. decrease the quantity of hamburgers supplied b. increase the number of hamburger buns demanded c. decrease the quantity of hamburgers demanded d. increase the number of hamburger buns supplied e. increase the quantity of hamburgers demanded