In traditional economic models, the narrowly self-interested, well-informed, highly disciplined and cognitively formidable decision maker is often referred to as:
A. homo economicus.
B. a boundedly rational agent.
C. a behavioral economist.
D. a satisficer.
Answer: A
You might also like to view...
Which of the following factors are included in the determination of growth rates of output in the intermediate run?
a. Variations in the rates of capital formation. b. Growth in the labor force that results from growth in the working age population as well as changes in labor force participation rates. c. Variations in the rate of technological change. d. All of the above e. None of the above
In the long-run, both perfectly competitive and monopolistically competitive firms will produce at minimum average cost
a. True b. False
PPP is the acronym for:
A. producer purchasing power. B. purchasing power parity. C. producer power parity. D. purchasing price power.
Under both the gold standard and the gold exchange standard countries bought and sold U.S. dollars to maintain a fixed exchange rate with the dollar
a. True b. False Indicate whether the statement is true or false