When people convince themselves that they "knew all along" what was going to happen, when in fact their predictions were incorrect, they suffer from:

If the absolute price elasticity of demand of a good is 1.46, then the total revenues will increase if its market price

A) increases. B) decreases. C) stays the same. D) changes, but we can't tell without more information if the price increases or decreases.

A market basket of goods costs $350 in the United States and 200 pounds in the United Kingdom. According to the purchasing power parity theory, the exchange rate should move towards:

A. $0.67 per British pound B. $1.50 per British pound C. $0.57 per British pound D. $1.75 per British pound