When a market is in equilibrium, both buyers and sellers do not perceive a benefit from changing their behavior. Why?
What will be an ideal response?
In most economic situations, an economic agent is not optimizing individually. His decision is influenced by the decisions taken by other economic agents. In equilibrium, each and every economic agent is doing the best that they can do, given the information they have and given the actions of other economic agents. Therefore, nobody perceives a benefit from changing his or her behavior.
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Security purchases in the United States by foreigners is
A) a credit item in the current account. B) a debit item in the capital account. C) a credit item in the capital account. D) a debit item in the current account.
A country that creates competitive advantage where there are not comparative advantages misallocates its resources and has lower national well-being
Indicate whether the statement is true or false