Assume that the dollar price of a basket of goods in the U.S. is $4 and the Indian price for the same basket is 200 rupees. On the other hand, the dollar price of the Indian basket is $20
Given this information, the Indian price for the Indian basket will be:
A) $1,200. B) $1,000. C) $200. D) $5.
B
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The unemployment rate for blacks is generally ___ the unemployment rate experienced by whites.
Fill in the blank(s) with the appropriate word(s).
According to the text, one important economic application of the anchoring and adjustment bias is
A. in estimating the failure rates of complex projects. B. to evaluate consumer behavior with regard to luxury spending. C. to increase productivity in volunteer organizations. D. to estimate production costs of simple operations.
If the law of diminishing marginal productivity holds true, eventually both the marginal cost curve and the average cost curve must become:
A. downward sloping. B. horizontal lines. C. upward sloping. D. vertical lines.
An increase in business taxes would tend to:
a. Decrease aggregate demand and decrease aggregate supply b. Increase aggregate demand and increase aggregate supply c. Increase aggregate demand and decrease aggregate supply d. Decrease aggregate demand and increase aggregate supply