What is the main potential benefit of water markets?
a. More water is available for ecological uses
b. Water is used for its most highly-valued purposes
c. Underground aquifers can become replenished
d. More water is available for lower-income households
e. Water use is managed by a centralized agency
Answer: b. Water is used for its most highly-valued purposes
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International trade occurs because the opportunity cost of producing specific goods differs across
a. firms b. individuals c. regions of the U.S. d. countries e. households
Answer the following statement true (T) or false (F)
1) Heuristics generally help people to make decisions faster, but also to make more errors. 2) Heuristics help people make faster, error-free decisions. 3) Recognition heuristics help advertisers gain customers. 4) Heuristics generally operate in brain System 2.