Neoclassical economics and behavioral economics disagree on the following assumptions, except:
A. Rationality of people
B. Determinants of prices
C. Stability of people's preferences
D. Strength of people's willpower
B. Determinants of prices
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The business cycle is defined as
A) changes in the stock market. B) changes in financial markets. C) persistent growth in potential GDP. D) irregular ups and downs in production and jobs. E) the period of time during which the unemployment rate is rising.
Probabilities, which can be obtained by repetition or are based on general mathematical principles, are called
A) statistical. B) empirical. C) a priori. D) subjective.
By definition, there is discrimination when the marketplace offers different opportunities to similar individuals who differ only by
a. race, ethnic group, sex, age, or other personal characteristics. b. qualifications, experience, or job preferences. c. levels of human capital. d. All of the above are correct.
When two variables have a positive correlation,
a. they tend to move in opposite directions. b. they tend to move in the same direction. c. one variable will move while the other remains constant. d. the variables' values are never negative.