Which of the Following Is an Assumption of Neoclassical Economics

question 19

Multiple Choice

Which of the following is an assumption of neoclassical economics?

• A)Long -term effects and planning are important.
• B)Resources are finite and should be conserved for the greater good of society.
• C)External costs and benefits are valuable.
• D)Economic growth is a means toward greater human well -being.
• E)All citizens deserve just and equal economic and sociopolitical treatment.

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Definitions:

Bargained

Negotiated terms and conditions that have been agreed upon by two or more parties, especially relating to employment contracts and labor relations.

Impasse

A deadlock or stalemate reached during negotiations where both sides are unable to resolve differences and move forward, often leading to a halt in discussions until conditions change.

Mainstream Industrial Relations

Pertains to the conventional study and practice of the relationship between employers, workers, and the government including trade unions and collective bargaining.

Employment Relationship

The formal or informal contract between an employer and employee, defining mutual rights, responsibilities, and expectations.