According to the representative heuristic, people will be more likely to assume that Wendy is a lawyer if:
A. they plan to apply to law school at some point in the future.
B. Wendy has many of the characteristics of a stereotypical lawyer.
C. Wendy vehemently denies being a lawyer.
D. there are few other lawyers living in the same geographic region.
Answer: B
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The price of a bag of corn chips is $3, and the price of a bottle of soda is $1. What is the relative price of a bag of corn chips?
A) 3 bottles of soda per bag of corn chips B) 1/3 bottle of soda per bag of corn chips C) $3 D) 33ยข
The current supervisory practice toward risk management
A) focuses on the quality of a bank's balance sheet. B) determines whether capital requirements have been met. C) evaluates the soundness of a bank's risk-management process. D) focuses on eliminating all risk.
Intermediate targeting the money supply is preferable if there is a(n)
a. increase in the severity of supply shocks. b. unstable money demand function. c. low interest elasticity of money demand. d. difficulty in the measurement of money demand. e. none of the above.
Another way to describe the growth rate of spending is:
A. the growth rate of real GDP. B. the growth rate of nominal GDP. C. the growth rate of the velocity of money. D. the growth rate of the money supply.