In economics, the context in which decisions are presented is referred to as:
A. choice architecture.
B. self-confirming equilibrium.
C. enlightened self-interest.
D. shadow prices.
Answer: A
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The figure above shows the relationship between the time a student spends studying and the student's GPA that semester. The slope of the relationship at point A equals
A) 3. B) 3/20. C) 2/20. D) 1/20. E) 0.
A cartel is a formal agreement among firms to control price and output of a product
a. True b. False Indicate whether the statement is true or false
If the U.S. government decided to pay off the national debt by creating money, what would be the most likely effect?
a. a substantial reduction in real GDP b. a deflationary collapse c. rapid inflation d. an increase in the trade surplus
Consider Noah's decision to go to college. If he goes to college, he will spend $80,000 on tuition, $15,000 on room and board, and $4,000 on books. If he does not go to college, he will earn $22,000 working in a store and he will spend $13,000 on room and board. Noah's cost of going to college is
a. $99,000. b. $103,000. c. $108,000. d. $121,000.