According to the representative heuristic, if Roger has many of the characteristics of a millionaire, then people will:
A. be less likely to think that he is a millionaire.
B. want to have those same characteristics.
C. be more likely to think that he is a millionaire.
D. think that many people are millionaires.
Answer: C
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In the above table, the opportunity cost of the 2nd pizza is
A) 0 cases of soda per pizza. B) 15 cases of soda per pizza. C) 95 cases of soda per pizza. D) 80 cases of soda per pizza.
Distinguish between the short-run and long-run factors that affect residential investment
What will be an ideal response?
Mr. Calhoun owned land on which cotton could be grown, but which he had been unable to rent for years. Suddenly he was getting offers from cotton farmers to lease his land. Which of the following best explains this change in circumstances? a. The price of cotton decreased
b. The price of cotton increased. c. The productivity of the land increased. d. Property taxes on the land increased.
Whenever the benefits of group effort fall on every member of a large dispersed group, regardless of individual contributions, there can be a
A. negative externality. B. free-rider problem. C. spillover effect. D. sudden-damage effect.