Studies of human decision-making have detected systematic mistakes that people make. Which of the following have been detected?
a. people are overconfident
b. people give too much weight to a small number of vivid observations
c. people are reluctant to change their minds
d. All of the above are correct.
d
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The k-percent rule, an example of a money targeting rule, relies on a relatively stable
A) supply of money. B) real interest rate. C) demand for money. D) federal funds rate. E) nominal GDP.
Refer to the scenario above. People will earn a net benefit of ________ if the discount weight of the future benefit is 1/10
A) 950 utils B) 930 utils C) -600 utils D) -950 utils
In an economy, 43 million people are employed, 3 million are unemployed, and 4 million are not in the labor force. What is the employment-to-population ratio?
A) 86 percent B) 92 percent C) 93 percent D) 6.5 percent
A recession causes a decrease in the demand for housing, resulting in substantial layoffs in the construction industry. This is an example of
A) cyclical unemployment. B) frictional unemployment. C) seasonal unemployment. D) structural unemployment.