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Author Question: In August 2015, the U.S. unemployment rate was highest for A) whites. B) high school dropouts. ... (Read 82 times)

kaid0807

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on: Jun 29, 2018
In August 2015, the U.S. unemployment rate was highest for
 
  A) whites.
  B) high school dropouts.
  C) Hispanics.
  D) African Americans.
  E) Asians.

Question 2

Explain the endowment effect.
 
  What will be an ideal response?


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carolinefletcherr

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

The endowment effect refers to the tendency of people to be unwilling to sell a good they already own even if they are offered a price that is greater than the price they would be willing to pay to buy the good if they did not already own it. This inconsistency comes from a failure to take into account nonmonetary opportunity costs.


kaid0807

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

parker125

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Reply 3 on: Yesterday
Excellent

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