In traditional economic models, which of the following does NOT describe homo economicus:
A. well-informed.
B. impulsive.
C. cognitively sophisticated.
D. narrowly self-interested.
Answer: B
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Strong evidence of convergence exists for ________
A) wealthy nations that belong to the Organization for Economic Cooperation and Development B) both rich and poor nations C) sub-Saharan African economies and the economies of North America D) European and Caribbean economies
Other things the same, the aggregate quantity of output supplied will increase if the price level
a. is lower than expected so that firms believe the relative price of their output has increased. b. is lower than expected so that firms believe the relative price of their output has decreased. c. is higher than expected so that firms believe the relative price of their output has increased. d. is higher than expected so that firms believe the relative price of their output has decreased.
If Sammy does not have a full-time job but is working part-time at 4 different jobs, he is counted ________ in the job data, and ________ in the persons-employed data.
A. once; 4 times B. 4 times; once C. once; not being employed D. 4 times; 4 times
The revenue collected by an income tax is a function of the average tax rate
a. True b. False