The field of economics that draws on insights from psychology to expand models of individual decision making is called:
A. psychological economics.
B. behavioral economics.
C. emotional economics.
D. decision optimization economics.
B. behavioral economics.
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If the required reserve ratio is 5 percent, then the simple deposit multiplier is
A) 2. B) 5. C) 10. D) 20.
Panel data
A) is also called longitudinal data. B) is the same as time series data. C) studies a group of people at a point in time. D) typically uses control and treatment groups.
By opening up to foreign markets, two things that countries generally experience are:
A. gaining access to a wide array of new products and saving money through access to cheaper goods. B. gaining access to a wide array of new products and increase in negative trade outcomes with that nation. C. saving money through access to cheaper goods and finding new customers who generally pay less for their products. D. increase in negative trade outcomes with that nation and finding customers who generally pay less for their products.
Refer to the accompanying table below. The average benefit of 4 units of activity is:Units of ActivityTotal CostTotal Benefit0$0$01$2$122$6$223$12$304$20$365$30$406$42$427$56$43
A. $10 B. $9 C. $4 D. $5