Projection bias:
A. is the tendency to evaluate present consequences based upon tastes and needs of the future.
B. is the tendency to evaluate future consequences based on tastes and needs at the moment of the decision making.
C. is the tendency to project future states of mind to the present.
D. can lead people to overestimate their adaptability.
B. is the tendency to evaluate future consequences based on tastes and needs at the moment of the decision making.
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An increase in interest rates will cause investment to
A) increase. B) decrease. C) not change. D) move erratically, depending on the interest rate effect on saving.
When a nonprice change affects any of the four components of GDP the:
A. aggregate demand curve will remain unaffected. B. aggregate supply with shift left or right. C. economy will move up or down along the aggregate demand curve. D. aggregate demand curve will shift left or right.
The theory of public choice
A. Examines why the public rejects so many bond referendums. B. Explains the selfless pursuit of public goals by public servants. C. Examines how a policy of laissez faire works to allocate resources. D. Emphasizes the self-interest of decision makers and voters.
In a progressive tax system
A. the marginal tax rate and the average tax rate decrease as income levels increase and the marginal tax rate is less than the average tax rate. B. the marginal tax rate and the average tax rate increase as income levels increase and the marginal tax rate exceeds the average tax rate. C. the marginal tax rate increase as income increases but the average tax rate does not change as income increases. D. the marginal tax rate and the average tax rate are the same for every income level and the same as income increases.