If you win money in a casino you may be more likely to spend that money than your hard-earned cash. This is called:
a. compartmentalizing
b. self control
c. rule of thumb
d. anchoring
a
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The economic growth of the United States over the last half-century ________
A) is best understood as the result of high levels of saving and investment B) is quite similar to the experience of most other economies C) was driven by rising import purchases D) has been slower than growth in several other economies
Keynesian economists tend to believe that the private sector of the economy (households and businesses) is inherently
A. very stable in its consumption and investment decisions. B. unstable in its consumption and investment decisions. C. smaller than the foreign trade sector of the economy.
If the nominal interest rate is 2.5 percent and the inflation rate is 2 percent, what is the real interest rate?
a. .5 percent b. 1.25 percent c. 4.5 percent d. None of the above is correct.
Monopolies can ________ in the long run while monopolistically competitive firms ________ due to barriers to entry in monopoly but not in monopolistic competition.
A. earn positive economic profits; cannot B. break even; cannot C. only break even; can only earn positive economic profits D. can never shut down; can