What is behavioral economics?
What will be an ideal response?
Behavioral economics is a branch of economics that uses the insights of psychology and economics to investigate decision making.
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A system in which depository institutions hold reserves that are less than the amount of total deposits is called
A) central banking system. B) required reserve banking. C) fiat money banking. D) fractional reserve banking.
To evaluate relative changes in the net public debt, we must
A) look at the absolute amount owed by the government. B) compare it to the nation's real GDP. C) look at the annual percentage change in the public debt. D) compare it to the debts of all developed countries.
According to the monetarists, government intervention can stabilize the economy and minimize the effect of business cycles
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 16.2 below to answer the question(s) that follow.
Figure 16.2Refer to Figure 16.2. The ________ imposed as a result of producing the market (unregulated) level of cars is $350.
A. marginal private cost B. marginal social cost C. marginal social benefit D. total damage