The Federal Reserve System is run by the President of the United States

In terms of industrial policy, clusters refer to:

A. networks of interdependent firms, universities, and businesses that focus on production of a specific type of good. B. firms in an economy that are so interconnected, when one fails, they all fail. C. the industries supported in a country practicing export-led growth policy. D. the industries supported in a country practicing import substitution policy.

A person who is, all else equal, more willing to throw away a $20 shirt than a $200 shirt, even if both are worn out, is:

A. dynamically inconsistent. B. dynamically consistent. C. demonstrating sunk cost fallacy. D. demonstrating pre-commitment.