According to the ____ school of thought, it is in people's self-interest to acquire, process, and respond to information which affects their economic well-being and to not repeat previous errors in action.

Which of the following is NOT an assumption of perfectly competitive markets?

A) many buyers and many sellers B) no restriction on entry C) complete information about prices D) new entrants have higher costs

The real rate of interest is

a. interest paid by commercial banks. b. interest paid by the Fed. c. equal to the money rate of interest plus the inflationary premium. d. the money rate of interest adjusted for inflation.