Behavioral economics
a. integrates psychological insights into economic models.
b. relies on the assumption that homo economicus describes economic decision-making.
c. assumes that economic agents have full information about the conditions surrounding their decisions.
d. All of the above are correct.
a
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An economy accumulates capital when
A) its capital-labor ratio increases. B) it increases the number of workers. C) GDP per capita increases. D) labor productivity declines.
Government actions to increase competition
What will be an ideal response?
What type of economic policy did Mexico follow from the end of World War II until the 1980s? Describe the three-stage strategy that supporters of this policy emphasized. What was the outcome of these policies for Mexico's manufacturing sector?
What will be an ideal response?
Which of the following would cause the labor demand curve to shift to the right?
A) a decrease in demand for the product the labor is used to produce B) an increase in labor productivity C) a decrease in the price of a complimentary resource D) a decrease in output price