The assumption that people act in their best self-interest means people
a. do what gives them the greatest benefits at the lowest costs.
b. are selfish.
c. do what gives them the smallest benefits at the greatest costs.
d. are irrational.
a. do what gives them the greatest benefits at the lowest costs.
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A(n) __________ in exports by the United States results in a(n) __________ in the supply of foreign exchange
A) increase; increase B) decrease; increase C) increase; decrease D) None of the above.
The price elasticity of demand is the ratio of the change in quantity demanded to the change in price
a. True b. False Indicate whether the statement is true or false
The process of depositing money in commercial bank accounts is called mattress saving
a. True b. False Indicate whether the statement is true or false
The Keynesian model provided an explanation for
a. the prolonged unemployment of the 1930s. b. the double-digit inflation rates of the 1970s. c. the high unemployment rates of the 1970s. d. the high inflation rates of the 1930s.