What are the main differences between neoclassical economics and behavioral economics?
a. Neoclassical economics is mainly theoretical.
b. Behavioral economics does not take as given that decision makers are rational.
c. Neoclassical economics assumes that decision makers are fully informed.
d. All of the above.
b
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The factors of production include
A) capital. B) investment. C) transfers. D) wages.
A decrease in the number of competitors in a monopolistically competitive market causes an increase in the price elasticity of demand for the output of each of the remaining firms in the market
Indicate whether the statement is true or false
Monetary policy should be countercyclical, which implies that it should be loosened during a recession and tightened during periods of inflation
a. True b. False Indicate whether the statement is true or false
If a poor country is going to grow rapidly and achieve a high level of per capita income, which of the following is most important?
What will be an ideal response?