All of the following are assumptions of both market and public-sector decision making EXCEPT
A) Decisions are based on majority rule.
B) Decisions are motivated by individuals' self-interest.
C) Opportunity costs exist in decisions.
D) Choices reflect incentives faced by decision makers.
A
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Aggregate demand in an economy with no government or foreign trade is
A) consumer expenditure plus actual investment. B) consumer expenditure plus planned investment. C) consumer expenditure plus inventory investment. D) consumer expenditure plus fixed investment.
When competing firms have a commitment strategy, it is called:
A. collusion. B. competitive cooperation. C. predatory pricing. D. competition.
Who among the following is a discouraged worker?
a. Brian, who has delayed joining his new office by a month b. Regina, who has given up her job search after several failed attempts to find one c. Daniel, who has a job as a ski instructor only during winter d. Roger, who is currently unemployed, enjoys the unemployment benefits and is not too eager to search for a new job
Because resources are scarce, a society cannot give all individuals the standard of living to which each aspires
a. True b. False Indicate whether the statement is true or false