In the Keynesian Model,firms Are Best Characterized as

question 89

Multiple Choice

In the Keynesian model,firms are best characterized as

• A)perfectly competitive.
• B)irrational.
• C)price takers.
• D)monopolistically competitive.

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Definitions:

Contracts of Adhesion

Contracts of adhesion refer to standard-form agreements prepared by one party, leaving the other party little or no ability to negotiate more favorable terms.

Public Policy

Principles and standards considered by the government to be beneficial for the community and used to guide legislative or regulatory actions.

Trade Secrets

Information, including formulas, practices, processes, designs, instruments, patterns, or compilations of information that is not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.

Illegal Agreement

A contract or agreement that is void because it involves actions that are against the law.