The term "stagflation" refers to an economy with the simultaneous problems of
(a) rising inflation rates and falling unemployment rates.
(b) rising deflation and unemployment rates.
(c) rising inflation and unemployment rates.
(d) falling deflation and unemployment rates.
(c)
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In this case the firm should
a. Produce both the versions and price discriminate since doing so gives a higher revenue b. Produce only the no-brand version c. Produce only the hi-end professional series d. Exit the marketplace
Answer the following statement true (T) or false (F)
1) A key difference between neoclassical economics and behavioral economics is that in behavioral economics context affects preferences. 2) Behavioral economics observes that people generally do not act according to their self- interest. 3) Neoclassical economics and behavioral economics both recognize that people make errors in their decision making. 4) According to behavioral economics, temptation to make harmful decisions can be overcome by presenting decision makers with better information and more options.