In anonymous surveys, on average people rate themselves as "above average" with regard to characteristics such as intelligence, perceptiveness, and driving ability. According to behavioral economics, this contradictory result would most likely be caused
by the:
A. overconfidence effect.
B. self-serving bias.
C. confirmation bias.
D. hindsight bias.
Answer: A
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Discouraged workers are included in the calculation of the
i. unemployment rate. ii. labor force participation rate. iii. working-age population. A) i only B) ii only C) i and ii D) iii only E) ii and iii
The marginal cost curve shows the per-unit cost associated with various levels of output.
Answer the following statement true (T) or false (F)
Using the table above, and assuming no bequest, what amount of consumption is chosen in period 1, if the consumer wants consumption in the two periods to be equal?
If initial wealth is $40,000, what amount of consumption is equal over the two periods?
The homoskedastic normal regression assumptions are all of the following with the exception of:
A) the errors are homoskedastic. B) the errors are normally distributed. C) there are no outliers. D) there are at least 10 observations.