________ behavioral assumption about humans was that people usually act in a rational, self-interested way
A) Adam Smith's
B) Janet Yellen's
C) Karl Marx's
D) Thomas Malthus's
A
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Large countries can improve their welfare by levying a tariff only if it does not
A) encourage rent seeking elsewhere in the economy. B) discourage innovation. C) lead to retaliation by the nation's trading partners. D) All of the above. E) None of the above.
Which of the following is a disadvantage of the European Monetary Union to member countries?
A. Loss of some national identity B. Greater price transparency C. Greater clout for European consumers D. The expected creation of new reserve currency, the euro
In the following question you are asked to determine, other things equal, the effects of a given change in a determinant of demand or supply for product X upon (1) the demand (D) for, or supply (S) of, X; (2) the equilibrium price (P) of X; and (3) the equilibrium quantity (Q) of X. An increase in the price of a product that is a complement to X will
What will be an ideal response?
With a pure gold standard
A) a nation may not pursue an independent monetary policy. B) an inflow of gold will reduce the money supply of a country. C) there will be a tendency for reducing world trade. D) a balance of payments deficit or surplus does not occur.