The fact that wants cannot be fully satisfied with available resources reflects the definition of

In both New Zealand and Canada, what has happened to the unemployment rate since the countries adopted inflation targeting?

A) The unemployment rate increased sharply. B) The unemployment rate remained constant. C) The unemployment rate has declined substantially after a sharp increase. D) The unemployment rate declined sharply immediately after the inflation targets were adopted.

Behavioral economists argue that asset price bubbles and other examples of herd behavior may be due to biases resulting from the law of small numbers

In particular, the investors may observe unusually ________ returns for some asset and use this limited information to ________ the probability that returns will be high in the future. A) low, over-estimate B) low, under-estimate C) high, over-estimate D) high, under-estimate