A behavioral economist is asked to sum up her criticism of the traditional model of consumer theory in a single word. Which of the following words would she most likely choose?
a. foolish
b. illogical
c. oversimplified
d. useless
c. oversimplified
You might also like to view...
The branch of economics which studies how households and firms make choices, interact in markets, and how government attempts to influence their choices is called
A) microeconomics. B) positive economics. C) normative economics. D) macroeconomics.
A U.S. international corporation will produce in other countries if costs are lower there
Indicate whether the statement is true or false
When does market equilibrium change in a given market?
What will be an ideal response?
The International Labor Organization has been around since 1919, and has a consistent record of being willing to take action against countries that violate core labor standards
Indicate whether the statement is true or false