Which of the following is NOT a key assumption of the classical model?
A) There is a single monopoly seller in many markets for goods and services.
B) People cannot be fooled by money illusion.
C) People are motivated by self-interest.
D) Wages and prices are flexible.
A
Economics
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Economies of scale in information production are enjoyed by
A) small borrowers. B) small lenders. C) large borrowers. D) large lenders.
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A demand relationship that is a vertical line up from the quantity axis is
A) perfectly elastic. B) unit-elastic. C) perfectly inelastic. D) somewhat elastic.
Economics