A manufacturer of a sugar substitute has launched a campaign against the consumption of sugar. This is an example of ________. indoctrination backward induction anchoring sniping
A manufacturer of a sugar substitute has launched a campaign against the consumption of sugar. This is an example of ________.
- indoctrination
- backward induction
- anchoring
- sniping
There are two grocery stores in the new neighborhood that you have moved into. Because you did not know which store is better, you decided to go to the one that is relatively crowded. Your behavior is an example of ________.
- herding
- anchoring
- signaling
- sniping
Which of the following questions can be answered using the concepts of
- Why does the rate of economic growth fluctuate from year to year?
- What is the difference between demand and quantity demanded?
- What is the effect of an increase in price on the supply of a good?
- Why do some firms produce differentiated goods?
How does the expenditures measure of
- It doesn't. The final value is the same.
- It is lower, because only purchased items are counted.
- It is higher due to the higher cost of a final good than of the inputs.
- It depends on the amount of inventories held at the beginning and end of the year.
Part of a bridge built by the government of Ritzland collapsed in the same year it was constructed. If the total cost of building the bridge was $4 million, and then it costs $3 million to repair it, which of the following will happen in this scenario, everything else remaining unchanged?
- Ritzland's GDP will decrease by $4 million.
- Ritzland's GDP will increase by $3 million.
- Ritzland's GDP will increase by $7 million.
- Ritzland's GDP will increase by $1 million.
Country A and Country B happen to have the same GDP per capita. The standard of living is said to be higher in Country A than in Country B. This could be because ________.
- the workforce in Country A is relatively bigger
- productivity is relatively greater in Country A
- the same goods and services are relatively more costly in Country A
- high income disparity in Country B prevents its GDP per capita from giving a full picture of the well-being of its people
Which of the following is likely to reduce the total efficiency units of labor in an economy?
- An earthquake that kills several people
- A recession that lowers aggregate demand
- An increase in the price level
- A decrease in the price of capital
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