Which of the following is a behavioral implication of bounded rationality?
A. a rule of thumb
B. a nervous breakdown
C. a rational mistake
D. unbounded selfishness
Answer: A
You might also like to view...
Approximately how many women were estimated to be "missing" in China?
(a) 20-30 million (b) 35-48 million (c) 44-50 million (d) 52-58 million
When we describe stock prices as following a random walk, we mean that future changes in stock prices are
A) unpredictable. B) increasing. C) decreasing. D) constant.
The graph shown demonstrates a tax on buyers. Who bears the greater tax incidence?
A. The seller
B. The buyer
C. The government
D. The incidence is equally shared between buyer and seller
Classical theory advocates ________ policy and Keynesian theory advocates ________ policy
a. fixed wages; flexible wages b. nonintervention; intervention c. active; nonstabilization d. active; passive