The logical (and sometimes illogical) shortcuts that people derive from experience which economize on their mental capabilities are called:
a. irrationalities.
b. heuristics.
c. statistical errors.
d. probabilities.
B
Economics
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The net effect of a stronger dollar on real GDP is
A) an increase in the price level. B) dependent on whether the increase in aggregate supply is more or less than the decrease in aggregate demand. C) a decrease in real GDP. D) an increase in real GDP.
Economics
If the quantity of fishing poles demanded is represented by the demand equation QD = 60 - P, then to solve for the price of fishing poles, the equation would be rewritten as
A) P = -60 + QD. B) P = QD + 60. C) P = 0.6QD + 10. D) P = 60 - QD.
Economics