People systematically overestimate the strength of positive and negative gut feelings.
Answer the following statement true (T) or false (F)
False
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Industries in which firms have high fixed costs and low marginal costs are likely to have a:
A. large number of small firms. B. large number of large firms. C. small number of small firms. D. small number of large firms.
Answer the following statement(s) true (T) or false (F)
1. Firms are so diverse in size and organization that it is not possible to make any general statements about their behavior. 2. Economists attempt to understand firm behavior by making the generalization that firms act to maximize growth. 3. In order to maximize profits, firms should produce to the point where marginal revenue is equal to marginal cost. 4. If the total benefits received from drug enforcement exceed its total costs, then the government should expand its drug enforcement activity. 5. Total cost and marginal cost can both be plotted on the same graph since both include a measure of quantity.
The lower the nominal interest rate, the
A) greater the quantity of money supplied. B) greater the demand for money. C) smaller the demand for goods and services. D) smaller the quantity of money demanded. E) greater the quantity of money demanded.
The monetary policy strategy that relies on a stable money-income relationship is
A) exchange-rate targeting. B) monetary targeting. C) inflation targeting. D) the implicit nominal anchor.