Myopia and time-inconsistency are major stumbling blocks that behavioral economists have found in people's ability to make decisions that involve trade-offs between:
A. Importing and exporting
B. Work and leisure
C. The private sector and the government
D. The present and the future
D. The present and the future
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Economists use a model that is a literal description of business’ behavior.
Answer the following statement true (T) or false (F)
Which of the following will NOT shift the short-run aggregate supply function?
A) changes in labor costs B) changes in the costs of nonlabor inputs C) changes in the price level D) changes in the expected price level
A tariff is a tax on either imports or exports
a. True b. False
An increase in investment combined with a decrease in education would have an indeterminate effect on both short run and long run aggregate supply
a. True b. False Indicate whether the statement is true or false