All the following are assumptions of the classical model EXCEPT
A) pure competition exists.
B) buyers and sellers react to nominal money prices rather than to relative prices.
C) wages and prices are flexible.
D) people are motivated by self-interest.
B
Economics
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Macroeconomics is best described as the study of
A) the nation's economy as a whole. B) very large issues. C) the choices made by individual households, firms, and governments. D) the relationship between inflation and wage inequality.
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The organization structure where a group performing a specialized task reports to a manager in that same area
a. functional b. line and staff c. product d. matrix
Economics