Which of the following supermarket strategies to increase sales would be most consistent with a behavioral economics (versus neoclassical economics) approach?

Positioning frequently purchased items at the back of the store. More test answers on https://studyhippo.com/chapter-8-behavioral-economics-201-3/

Which of the following best explains the difference between neoclassical economics and behavioral economics

Neoclassical economics assumes that people are rational in their decision-making while behavioral economics believe people make systematic errors More test answers on https://studyhippo.com/chapter-8-7/

Which of the following best explains the difference between neoclassical economics and behavioral economics?

Neoclassical economics assumes that people are rational in their decision making, while behavioral economics believes people make systematic errors. More test answers on https://studyhippo.com/chapter-8-behavioral-economics-201-3/

Behavioral economics studies how ____ influences the decision-making process

human psychology More test answers on https://studyhippo.com/econ-1010-questions-i-got-right-but-still-dont-know/

Behavioral economics was motivated by an attempt to understand A. why sunk costs should be ignored in decision making. B. how people actually make choices. C. the behavior of marginal cost curves. D. the behavior of marginal benefit curves.

B. how people actually make choices. More test answers on https://studyhippo.com/microeconomics-chapter-9-2/

What are potential issues of Behavioral Economics Policy (BE)?

1. Designing helpful policies is complicated because we may not have enough information 2. Nudges or Precommitment strategies may not have improve the situation because government may make things worse More test answers on https://studyhippo.com/microeconomics-13/

Behavioral Economics Policy allows people to maintain free choice but…?

Guides people to make good decisions More test answers on https://studyhippo.com/microeconomics-13/

The impact of the national debt on the economy’s unemployment is an example of A. macroeconomics analysis. B. microeconomic analysis. C. irrational economics. D. behavioral economics.

A. macroeconomics analysis. This is the correct answer. More test answers on https://studyhippo.com/microeconomics-chapter-1-13/

Ability to assess future options and possibilities (according to behavioral economics)

People place insufficient weight on future events and outcomes. More test answers on https://studyhippo.com/micro-economics-ap-chapter-8-vocabulary-review/

Capability for making mental calculations (according to behavioral economics)

People are bad at math and avoid difficult computations if possible. More test answers on https://studyhippo.com/micro-economics-ap-chapter-8-vocabulary-review/

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