Purposeful behavior means that:
A. people are selfish in their decision making.
B. people weigh costs and benefits to make decisions.
C. people are immune from emotions affecting their decisions.
D. decision makers do not make mistakes when weighing costs and benefits.
Answer: B
Economics
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Whenever the absolute value of the price elasticity of demand is greater than 1, but less than infinite
A) demand is inelastic. B) demand is unit elastic. C) demand is elastic. D) demand is perfectly elastic.
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Of the following items, which is least likely to be discussed by a teacher of macroeconomics?
a. the national employment b. the business cycles c. our unemployment policy d. national income accounting e. a firm's profit
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