Loss aversion is a behavioral concept that suggests: 1. People are more willing to take risks when facing potential losses. 2. People feel the pain of losses more than they experience pleasure from equivalent gains. 3. People consistently make perfectly rational decisions when faced with potential losses. 4. People are indifferent to whether they gain or lose in economic transactions.

Mia puts money into a piggy bank so she can spend it later. What function of money does this illustrate? store of value medium of exchange unit of account None of the above is correct

Which of the following statements regarding GDP is correct?     1.  GDP includes factory production, but not any harm that may be inflicted on the environment.     2.  GDP accounts for all activities taking place outside markets.     3. GDP is a good measure of economic well-being for all purposes.       4.  GDP provides detailed information about the distribution of inc

If the GDP deflator for this year is 80, we know for sure that prices have   1..       gone up by 80% compared to the previous year 2.     gone down by 20% compared to the base year 3.      gone down by 80% compared to the previous year 4.     gone up by 20% compared to the base year   

Which of the following is an example of barter? 1. A parent gives a teenager a $10 bill in exchange for her babysitting 2. A homeowner gives an exterminator a check for $50 in exchange for extermination 3. A barber gives a plumber a haircut in exchange for the plumber fixing the barber’s leaky faucet 4. All of the above are examples of barter

Stock prices go up based off the companies          future expected profits risk exposure    liquidity increases            leverage capability

If the GDP deflator is less than ______, we know prices have fallen.

In order to calculate real GDP you will always use the prices from the _______ year.

Prices and Quantities Year Price of Cereal Quantity of Cereal Price of Milk Quantity ofMilk 2017 $5.00 150 $2.50 200 2018 $6.00 180 $3.50 240 This country’s inflation rate from 2017 to 2018 was 20.0%. 21.8%. 28.9%. 28.0%.

Goods that are included in the production of final goods but not included in GDP are known as intermediate  complementary  incomplete                 manufacture