________ is the relationship according to which the perceived change in any stimulus varies according to the size of the change measured as a proportion of the original stimulus.

A. Regression to the mean
B. The adaptive rationality standard
C. The Weber-Fechner law
D. The representative heuristic

Answer: C

Economics

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According to the diagram in the figure above, an allocatively efficient use of resources requires that production and consumption of gasoline be

A) 1 million gallons of gasoline per month. B) 2 million gallons of gasoline per month. C) 3 million gallons of gasoline per month. D) 4 million gallons of gasoline per month.

Economics

Auto insurance rates are lower for young women relative to young men. An unusually reckless young woman driver benefits from this

A) statistical discrimination. B) signal. C) screening. D) majority voting.

Economics