Nearly Half of All Marriages End in Divorce

question 131

Multiple Choice

Nearly half of all marriages end in divorce.Yet in a study of 137 applying for a marriage license,most rated their own chance of divorce as zero.This finding illustrates

• A)false consensus.
• B)self-efficacy.
• C)unrealistic optimism.
• D)self-verification.

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Definitions:

Normal Good

A good for which a rise in income increases the demand for that good—the “normal” case.

Total Revenue

The total income received by a firm from selling its goods or services, calculated as the unit price times the quantity sold.

Elastic Demand

A situation where the demand for a product changes significantly in response to changes in its price.

Midpoint Method

A technique used in economics to calculate elasticity by averaging the percentages of change in both quantity and price.