Economists assume that
A) individuals behave in unpredictable ways.
B) consumer behavior is explained by the existence of unlimited resources.
C) people put other people's interests ahead of their own.
D) optimal decisions are made at the margin.
Answer: D
Economics
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The term prisoners' dilemma
a. refers only to situations where prisoners' must confess on one another. b. is in agreement with Adam Smith's invisible hand idea. c. represents situations where people do not act in their own self interest. d. can be applied to show why cartels are difficult to maintain.
Economics
The post-World War II record shows that recessionary gaps may be long-lasting because ____ tends not to occur.
A. deflation B. reflation C. stagflation D. disinflation
Economics