Theory in economics
a. involves some simplification of reality
b. bears no relation to reality
c. approaches reality in all its complexity
d. involves so much distortion of reality that it is worthless
e. focuses on the unique aspects of each situation
A
Economics
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Between 1865 and 1914, individuals in households could use the income they did not spend to do what?
(a) Purchase stocks (b) Buy bonds (c) Place money in savings accounts (d) All of the above
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Which of the following problems best describes what may occur when Dixie hires an attorney to help in her child-custody suit?
a. the winner's curse b. a signaling problem c. a principal-agent problem d. an adverse selection problem e. unemployment
Economics