Judgmental and decision heuristics are:

A. rules of thumb that reduce computation costs.
B. a way of calculating computation costs.
C. derived from the rational choice model but imply higher computation costs.
D. used to test the rational choice model when computation costs are small.


Answer: A

Economics

You might also like to view...

Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.

A. lower; potential B. higher; higher C. lower; higher D. higher; potential

Economics

To be a member of the Internal Monetary Fund a nation must deposit funds based on

A) the need to loan money to developing nations. B) its national income. C) the amount of funds it wants to deposit. D) rules set up by the World Bank.

Economics

If the government intervenes in a labor dispute and requires settlement through binding arbitration, what takes place?

a. A neutral third party makes a decision that both parties must accept. b. A neutral third party makes a decision that both parties may reject. c. One party sues the other in court. d. The two parties negotiate an agreement without assistance and both must accept it. e. The two parties negotiate an agreement with assistance from their attorneys and both must accept it.

Economics

A decrease in the price of domestically produced nuclear reactors will be reflected in

a. both the GDP deflator and the consumer price index. b. neither the GDP deflator nor the consumer price index. c. the GDP deflator but not in the consumer price index. d. the consumer price index but not in the GDP deflator.

Economics