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What are some ways that someone looking for a loan might reassure a bank that is faced

Principles of Economics | 2nd Edition | ISBN: 9781947172364 | Authors: Steven A. Greenlaw, David Shapiro, Timothy Taylor ISBN: 9781947172364 471

Solution for problem 8 Chapter 16

Principles of Economics | 2nd Edition

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Principles of Economics | 2nd Edition | ISBN: 9781947172364 | Authors: Steven A. Greenlaw, David Shapiro, Timothy Taylor

Principles of Economics | 2nd Edition

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Problem 8

What are some ways that someone looking for a loan might reassure a bank that is faced with imperfect information about whether the borrower will repay the loan?

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March 15th Decision Making 1. The Unconscious Mind a. Used to make quick decisions b. When people are allowed to just “think” through problems, they usually utilize their unconscious mind 2. Decision Making a. Programed Decision Making i. Routine; Automatic decision making that follows rules and guidelines 1. Based on experience 2. Little ambiguity b. Common Sense i. What to eat, wear, how to cross the street etc. ii. Behaving in a reasonable way c. Non Programmed Decision Making i. Occurs in response to unusual, unpred

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Chapter 16, Problem 8 is Solved
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Textbook: Principles of Economics
Edition: 2
Author: Steven A. Greenlaw, David Shapiro, Timothy Taylor
ISBN: 9781947172364

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What are some ways that someone looking for a loan might reassure a bank that is faced