Microeconomists usually assume that people are motivated by
A. selfishness.
B. material self-interest.
C. altruism.
D. property rights.
B. material self-interest.
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A supply curve is defined as the relationship between
A) the price of a good and the quantity that producers are willing to sell. B) the income of consumers and the quantity of a product that producers are willing to sell. C) the income of consumers and the quantity of a product that consumers are willing to buy. D) the price of a good and the quantity that consumers are willing to buy.
One problem with the ripple effect from the Fed's monetary policy is
A) the fact that the monetary policy transmission process is long and drawn out. B) that changing the Federal funds target rate seldom has an effect on the markets for reserves and loanable funds. C) the frequent misalignment of the spread between the Federal funds rate and the Federal funds rate target. D) that the Fed's policy sometimes has a large impact on potential GDP as well as its usual impact on aggregate demand. E) the tight relationship between that the Federal funds rate has to aggregate spending.
Which of the following is NOT an example of adverse selection?
A) A family with a home ten feet from a large river buys flood insurance. B) A company uses the proceeds of a new stock sale to build an unnecessarily luxurious new headquarters. C) A terminal cancer patient buys life insurance. D) A company in serious financial trouble offers to pay you 30% on a loan.
Which one of the following does NOT appear to contribute to economic growth?
A. a system of well-defined property rights B. knowledge C. innovation D. protectionism