Economists believe that individuals respond in a predictable way to changes in costs and benefits. The term that best describes this belief is
a. opportunity cost
b. demand
c. supply
d. scarcity
e. rational behavior
E
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How does the demand curve perceived by a monopolist compare with the market demand curve?
A.One has a horizontal demand curve, the other is vertical. B.Both are horizontal C.One has a vertical demand curve, the other is downward sloping. D.They are essentially the same
The private sector balance is equal to ________
A) income minus consumption minus net taxes B) income minus consumption minus investment C) saving minus investment D) income minus consumption
Explain how a country with a current account deficit is a ripe candidate for currency devaluation
What will be an ideal response?
If the U.S. real exchange rate with Japan is greater than 1, then U.S. goods are relatively cheap
a. True b. False Indicate whether the statement is true or false