Economists assume people behave
A) instinctively.
B) rationally.
C) irrationally.
D) greedily.
B
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Refer to Table 19-6. Consider the table of production and price statistics for a small economy in 2013. If the economy only produces the four goods listed below, what is GDP for 2013?
A) $428,000 B) $267,000 C) $24,000 D) $1,424
In a large open economy, what is the source of the demand for loanable funds?
A. Net foreign investment and investment B. National saving and investment C. Investment D. Net foreign investment
Money market mutual funds are accounts that are
a. usually offered by banks. b. do not pay interest income. c. insured by the federal government. d. usually offered by brokerage and insurance firms.
Refer to the accompanying figure, which shows the market for cups of coffee. At the original market equilibrium:
A. 60 cups are sold per hour at a price of $1.50 each. B. 50 cups are sold per hour at a price of $2.50 each. C. 50 cups are sold per hour at a price of $1.00 each. D. 40 cups are sold per hour at a price of $2.00 each.