An assumption of the classical model is that
A) money illusion is widespread.
B) people make decisions based on nominal prices rather than real prices.
C) prices are flexible while wages are inflexible.
D) people are motivated by self-interest.
D
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Activities that firms, universities, and governments undertake to increase their knowledge base are referred to as:
A) primary activities. B) research and development (R&D) activities. C) secondary activities. D) tertiary activities.
Deb and Pete have volunteered to help their favorite charity mail out fundraiser information. The figure above shows their production possibilities frontiers for assembling packets and stuffing envelopes
What is Deb's opportunity cost of assembling 1 packet? A) 4 envelopes B) 4 packets C) 160 envelopes D) 1/4 of an envelope E) 40 envelopes
Minimum wage laws are always beneficial to low-wage workers
Indicate whether the statement is true or false
The _____________ program of President Lyndon Johnson was designed to lift people out of poverty.
Fill in the blank(s) with the appropriate word(s).