Students of microeconomic principles often say they are going to study "tonight," because the only way to pass the exam is to study some every night. When "tonight" comes, some students choose to do something else. Come exam day, these students do not do well on their exam. This observation is an example of how people
a. are inconsistent over time.
b. are consistent over time.
c. are mainly interested in fairness.
d. are rational.
a
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The CPI overstates inflation because the average consumer buys
A) less of those goods whose relative price has risen. B) more of those goods whose relative price has risen. C) lower quality goods if they have a choice. D) the same basket of goods every week. E) a generally random assortment of goods and services each week because what is purchased depends on what the consumer needs.
One reason a country does not specialize completely in production is that not all goods and services are traded internationally
Indicate whether the statement is true or false
Hedge funds require large minimum investments ranging from ________ to ________ or more
A) $100,000; $1 million B) $1000; $10,000 C) $100; $1000 D) $$10,000; $25,000
Which of the following would be likely to raise your opportunity cost of attending a big basketball game this Sunday night? a. A friend calls you up and offers you free tickets to a concert by one of your favorite bands on Sunday night. b. Your employer offered you double your usual wage to work this Sunday night
c. Late Friday afternoon, your physics professor makes a surprise announcement that there will be a major exam on Monday morning. d. All of the above would likely raise the opportunity cost of attending the game.