Before digital photography, most film processing companies had a policy of printing every picture on a roll of film and allowing customers to request a refund for pictures that were not clearly developed
The companies did this knowing that most customers did not ask for refunds. This was an example of consumers
A) being overly optimistic about their future behavior.
B) not making themselves aware of the policy regarding refunds.
C) failing to ignore sunk costs.
D) not taking nonmonetary opportunity costs into account.
D
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Which of the following is true of the unit of account function of money? a. It makes money durable in nature
b. It makes the relative values of goods and services more easily known. c. It implies that money should be made of something valuable. d. It implies that money can be used to save up purchasing power. e. It implies that money is more easily counted than goods.
If some people who were frictionally unemployed became structurally unemployed instead, the natural rate of unemployment:
a. Would increase b. Would not change c. Would decrease d. Would be affected in an unpredictable manner