The idea that people will not consciously make decisions that make them worse off is known as
A) rationality assumption.
B) the decision duality.
C) Adam Smith's doctrine.
D) incentive assumption.
Answer: A) rationality assumption.
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The Bank of the United States did not:
a. act as a lender of last resort. b. help collect customs bonds. c. carry on foreign exchange operations. d. hold most of the U.S. Treasury deposits. e. The Bank of the United States engaged in all of these activities.
All of the following are macroeconomic injections into the circular flow except:
a. Consumption b. National government spending c. State and local government spending d.All of the above. e. None of the above.
During the 19th century, ____ was the mainstream school of economics.
A. classical B. Keynesian C. monetarism D. supply-side
The question "Should more capital goods be produced instead of consumer goods?" is an example of which fundamental economic question?
A. The What to Produce question. B. The Why to Produce question. C. The How to Produce question. D. The For Whom to Produce question.