According to behavioral economists, self-control problems:
A. are a rare aberration from rational decision making.
B. are often caused by time inconsistency.
C. can be easily overcome by providing decision makers with better information.
D. occur frequently but have no impact on the ability of neoclassical models to predict
economic outcomes.
Answer: B
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The horizontal portion of the short-run aggregate supply curve reflects the Keynesian assumption of "sticky" prices
Indicate whether the statement is true or false
In economic terms, interest is the payment for
A) current command over resources. B) producers' goods. C) stocks. D) both consumer and capital goods.
The foreign trade effect is when the US price level __________ relative to foreign price levels and the quantity of US goods demanded as net exports decreases.
Fill in the blank(s) with the appropriate word(s).
Businesses will generally shut down if they lose money for one or two years.
Answer the following statement true (T) or false (F)