At the Equilibrium Level of GDP,
A) MV = Nominal $V = 1 / \mathrm { MPS }$

question 26

Multiple Choice

At the equilibrium level of GDP,

• A) MV = nominal GDP.
• B) MV = real GDP.
• C) M = nominal GDP.
• D) \(V = 1 / \mathrm { MPS }\)

Explain how opportunity costs and resource scarcity shape actions within rational choice theory.

Identify the differences between various social theories, including rational choice theory, exchange theory, and network theory.

Describe George Homans' propositions related to rational choice and exchange theories.

Apply the principles of rational choice theory to describe motivations and behaviors of actors.

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