Which of the following theories argues that people form the most accurate possible expectations about the future using all information available to them?
a. The theory of adaptive expectations
b. The theory of rational expectations
c. The theory of sticky wage
d. The theory of absolute advantage
b
Economics
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Soldiers in a World War II prisoner-of-war camp
A) used cigarettes as money. B) used cowrie shells as money. C) used U.S. dollars as a commodity money. D) used gold as a fiat money.
Economics
The magnitude of the slope of an indifference curve is:
A) called the marginal rate of substitution. B) equal to the ratio of the total utility of the goods. C) always equal to the ratio of the prices of the goods. D) all of the above E) A and C only
Economics