The public debt as a percent of GDP is lower in the United States than in many other industrial nations.

Which of the following statements is true about a competitive market? A competitive market

A) has a handful of sellers but always has many buyers. B) must have a physical location. C) includes markets for goods and services but not for inputs. D) has so many buyers and sellers that no one can influence the price. E) has one seller competing to sell his or her product.

Behavioral economics can best be described as

A) the study of situations in which people's choices do not appear to be economically rational. B) the study of human economic behavior. C) the basis for efficient markets. D) the study of how the economy affects human behavior.