A person cutting up her credit cards in an effort to curb her spending is an example of:
A. status quo bias.
B. a commitment device.
C. the endowment effect.
D. loss aversion.
B. a commitment device.
Economics
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Some say economic competition will continue to drive globalization, largely because any states hoping to get ahead will be pushed to accept
a. free trade. b. capitalism. c. democracy. d. collaboration.
Economics
As a unit of account, money is used
A) to hold purchasing power over time. B) to define prices of all other goods. C) to pay off future debts. D) to exchange for goods and services.
Economics