Economists define "rational" tastes as those which are objective and transitive.
?
Answer the following statement true (T) or false (F)
False
Rationale: Economists define "rational" tastes as those which satisfy both completeness and transitivity.
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One consequence of rent ceilings set below the equilibrium rent is that
A) a surplus of housing units develops. B) renters are no longer exploited by landlords. C) it makes the long-run housing supply more elastic. D) search costs for housing increase.
The law of one price states that identical products should sell for the same price everywhere as long as transactions costs are zero
Indicate whether the statement is true or false
Which of the following is not a property of assets?
A) risk B) inflation. C) liquidity D) maturity
All points within the utilities possibilities frontier are
A) unattainable. B) efficient. C) inefficient. D) profitable.