Which of the following is NOT an alleged "unrealistic" assumption that proponents of behavioral economics suggest are commonly utilized in traditional economic models based on the rationality assumption?
A) unbounded selfishness
B) unbounded rationality
C) unbounded will power
D) unbounded resources
D
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Situation 4-1 During the winter of 1973-74, a general system of wage and price controls (including a price ceiling on gasoline) was in force in the United States. At the beginning of 1974, some oil-producing countries imposed an oil embargo (a legal prohibition on commerce) on the West. In the spring of 1974, price controls were abolished. Refer to Situation 4-1. If no price controls had been in
place, the effect of the oil embargo on the equilibrium price and quantity of gasoline would have been A) an increase in both price and quantity. B) an increase in price and a decrease in quantity. C) a decrease in price and an increase in quantity. D) a decrease in both price and quantity.
Karen is attempting to put into words the key idea that encapsulates what her company's brand is intended to stand for in its target market's mind. Karen is writing a __________.
A. positioning statement B. sales promotion C. mixing elements D. brand equity E. leaky bucket