Economists use M2 to measure the amount of money that is regularly used in transactions.
Answer the following statement true (T) or false (F)
False
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It has been observed that people surveyed shortly after major air crashes estimate higher probabilities that a given flight will crash than people surveyed during intervals without any. The error in reasoning observed in this experiment results from:
a. availability heuristics. b. representative heuristics. c. population heuristics. d. selection bias.
A system of property rights
A) encourages economic growth by creating incentives to invest in capital and to be innovative. B) discourages economic growth by discouraging the development of new ideas and ways of doing things. C) reduces the efficiency of government, which reduces the growth rate of the economy over time. D) encourages investment but discourages entrepreneurial activity, so the effect on economic growth is uncertain.
Structural unemployment is:
A. a mismatch between the skills workers can offer and the skills that are in demand. B. unemployment caused by workers who are changing their location, job, or career. C. the effect of wages remaining persistently above the market-clearing level. D. when workers voluntarily quit their jobs.
In addition to higher wages, early labor unions negotiated with business owners for ______.
a. shorter hours and workweeks b. increased mandatory overtime c. benefits for unmarried partners d. paid vacation time