Economics does not study correct or incorrect behaviors but rather it assumes that economic agents behave ________, meaning they make the best decisions given their knowledge of the costs and benefits
A) emotionally B) equitably C) selfishly D) rationally
D
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The sale of financial assets, such as stocks and bonds, is ________.
A. not included in GDP, because they do not increase domestic production B. not included in GDP, because they do not increase domestic wealth C. included in GDP, because they increase domestic wealth D. included in GDP, because they raise domestic production
A discount bond resembles a simple loan in that
A) the interest on neither is taxable. B) the borrower repays in a single payment. C) both represent assets to the borrowers who issue them. D) both have par values greater than their face values.
The demand curve of a monopolistically competitive producer is:
A. less elastic than that of either a pure monopolist or a pure competitor. B. less elastic than that of a pure monopolist, but more elastic than that of a pure competitor. C. more elastic than that of a pure monopolist, but less elastic than that of a pure competitor. D. more elastic than that of either a pure monopolist or a pure competitor.
Many developing countries make the government budget one of the primary tools of long-run industrial development, with the government owning and operating industries such as steel mills, airlines, and phone companies
Indicate whether the statement is true or false