Which of the following students exhibits satisficing behavior?
a. Mick studies his economics notes every night so that he can be sure to earn a perfect score on his exam.
b. Bill studies his economics notes for a few hours the night before the test because he will be satisfied with a C on his exam.
c. Marguerite studies extensively as she will only be satisfied with a very high score.
d. None of these students exhibits satisficing behavior.
b
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The figure above shows the market supply and market demand for pizza
a) What is the efficient quantity of pizzas? b) If 70,000 pizzas are produced, what area represents the deadweight loss? c) Why does the deadweight loss in part (b) occur? d) If 20,000 pizzas are produced, what area represents the deadweight loss? e) Why does the deadweight loss in part (d) occur?
Inflation will
A) decrease the quantity of real GDP demanded. B) decrease aggregate demand. C) increase the quantity of real GDP demanded. D) increase aggregate demand.
An unexpected reduction in inflation would tend to benefit which of the following?
A) creditors B) debtors C) creditors and debtors D) neither creditors nor debtors
Disclosing information in more usable ways to decision-makers:
A. can decrease the occurrence of rational ignorance in decision-making. B. can nudge people toward making better decisions. C. has been useful to organizations like the EPA in getting desired outcomes, like people deciding to buy more gas-efficient cars. D. All of these statements are true.