Most economists A. apply the assumption that people rarely behave as if they act rationally although they do aim to maximize utility. B. rely on seemingly irrational behavior to reject the assumption of rationality. C. apply the assumption that people behave as if they act rationally with an aim to maximize utility. D. None of the above.

Copyright law protects the expression of an idea so blank is protected by copyright

Highland company produces a lightweight backpack that is popular with college students. standard variable costs relating to a single backpack are given below

Assume that the following conditions exist: a. all banks are fully loaned up- there are no excess reserves, and desired excess reserves are always zero. b. the money multiplier is 5 .     c. the planned investment schedule is such that at a 4 percent rate of interest, investment =$1450 billion. at 5 percent, investment is $1420 billion. d. the investment multiplier is 3 . e.. the initial equilibrium level of real gdp is $12 trillion. f. the equilibrium rate of interest is 4 percent now the fed engages in contractionary monetary policy. it sells $1 billion worth of bonds, which reduces the money supply, which in turn raises the market rate of interest by 1 percentage point. calculate the decrease in money supply after fed's sale of bonds: $nothing billion.