Ch1. Because information is costly to acquire, how does the cost change decision making?
What will be an ideal response?
People will rationally choose not to become fully informed when making decisions.
Economics
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Compare and contrast the concepts of income and wealth. Are these measured as a stock or a flow? Explain
What will be an ideal response?
Economics
Following the recession of 2001, there was a month in which employment and the unemployment rate both rose. Assuming the computations were correct, how is it possible for both to have increased?
Economics