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Author Question: The slope of the aggregate supply curve becomes steeper, the faster the costs of production adjust ... (Read 94 times)

fahad

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on: Jun 30, 2018
The slope of the aggregate supply curve becomes steeper, the faster the costs of production adjust to prices and the smaller the amount of excess capacity in the economy.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Can activities like driving faster than the speed limit or driving without wearing a seat belt be considered rational behavior? Why or why not?


shoemake

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Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

These activities would be considered rational if the perceived benefits are greater than the perceived costs. The decision to act in a certain way can be rational even if the actions turns out to be something that the individual later regrets.


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