Neoclassical economics assumes that people have the following characteristics, except:
A. They are stable and definite in their tastes and preferences
B. They are good at assessing future options as they are in assessing current ones
C. They are driven by their pursuit of maximum satisfaction
D. They care deeply about fairness and are often generous
D. They care deeply about fairness and are often generous
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The nominal wage is the wage rate adjusted for changes in the price level
Indicate whether the statement is true or false
Screening and monitoring are costly activities. Why is it a bad idea to impose these costs on borrowers?
What will be an ideal response?
The difference between a good and a service is that
a. a good helps satisfy unlimited wants; a service does not b. a service helps satisfy unlimited wants; a good does not c. a services is available in unlimited quantities; a good is not d. a good is available in unlimited quantities; a service is not e. a good is tangible; a service is not
If there is an excess supply of money in the economy,
a. there is also an excess demand for money b. there is also an excess demand for bonds c. there is also an excess supply of bonds d. the interest rate will rise e. the Fed must intervene to restore equilibrium