Keynesians would argue that:
a. information is inherently limited.
d. individuals have limited ability to process information when making decisions.
c. people often make mistakes even with appropriate information.
d. all of the above.
e. none of the above.
D
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As the U.S. became increasingly industrialized in the 19th century,
a. the poor got poorer. b. the rich got poorer. c. the income of the poor grew more slowly than the income of the rich. d. the income of the poor grew more rapidly than the income of the rich.
All of the following can cause conflict between divisions EXCEPT
a. Coordination between divisions does not benefit all divisions equally b. managers of profit centers care too little about the effects of their decisions on other divisions c. managers are rewarded only for how much profit their own division generates d. corporate executives can tell when a divisional manager's decisions are appropriate or not
The figure above represents the behavior of total revenue as price falls along a straight-line demand curve. Unit elasticity of demand occurs at
A) point g. B) point h. C) point i. D) point j.
Suppose that at current consumption levels an individual's marginal utility of consuming an extra hot dog is 10 whereas the marginal utility of consuming an extra soft drink is 2 . Then the MRS (of soft drinks for hot dogs)—that is, the number of hot dogs the individual is willing to give up to get one more soft drink is
a. 5 b. 2 c. 1/2 d. 1/5