Which of the following is not true about New Institutional Economics?
A) It is made up of agents who use rational choice.
B) It examines how individuals within the household behave.
C) It considers how workers who are already employed make their decisions regarding how much or how hard to work.
D) It is a combination of law,economics,and organization.
E) It assumes agents have a limited ability to calculate the consequences of their actions.
Correct Answer:
Verified
Q17: Which of the following is an exogenous
Q18: Which of the following is not a
Q19: If the price of capital decreases,the labor
Q20: A mathematical model
A) contains only exogenous variables.
B)
Q21: If wages are below the wage level
Q23: The marginal concept is important in economics
Q24: Which is not a pillar of the
Q25: Workers in an industry are probably overpaid
Q26: If an economy has reached the general
Q27: Pareto efficiency implies
A) everyone in the economy
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