Multiple Choice
Economists find that models based on the assumption of rational behavior are robust,because a world in which everyone is rational would function quite similarly to a world in which there are no
A) unexploited profit opportunities.
B) constraints due to scarcity.
C) inefficient markets.
D) barriers to free trade.
Correct Answer:
Verified
Correct Answer:
Verified
Q11: In a Walrasian equilibrium,which of the following
Q12: Efficiency is the only criterion by which
Q13: The first step in economic analysis is
Q14: In the Black-Scholes option pricing model,investors are
Q15: In a Nash equilibrium,which of the following
Q17: An economic problem can be defined as
Q18: An economic model is robust if it
Q19: Abstract economic models whose assumptions and conclusions
Q20: A Nash equilibrium is one in which
Q21: Many economic models are not sufficiently detailed