According to behavioral economists, people's preferences toward a particular outcome:
A. depend heavily on the contextual information that defines whether that outcome is a gain
or a loss.
B. are context independent because the same state of being is created regardless of one's
previous circumstances.
C. differ across people but are fixed for any given individual.
D. depend primarily on genetics rather than environmental or contextual forces.
Answer: A
Economics
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At market equilibrium,
A) quantity demanded equals quantity supplied. B) shortages are greater than surpluses. C) surpluses are greater than shortages. D) demand equals supply.
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