In 2010, Social Security pay-ins exceeded payouts in the U.S., for the first time in history

Behavioral economics deals with

A) the assumption that people are always selfish. B) bounded rationality. C) unbounded willpower. D) only theories without justification from empirical evidence.

A weakness of the classical model is

a. the quality of its explanations for long-run movements of the economy b. its confusion between the long and short run c. its assumption that the labor market always clears d. its treatment of crowding out in the long run e. its inadequate attention to the long run