When economic agents transfer resources through time, it is referred to as:
A) clockwise transformations.
B) time-wise transformations.
C) chronological transformations.
D) intertemporal transformations.
D
Economics
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People often make economic decisions they later regret, which shows
A) they failed to acquire additional information up to the point where expected marginal benefit equals expected marginal cost. B) they failed to behave rationally. C) they failed to invest as much as they ought to have invested in information. D) none of the above.
Economics
In the circular-flow diagram, another name for goods and services produced by firms is
a. factors of production. b. output. c. inputs. d. resources.
Economics