Because of the Large Amounts of Resources Devoted to Understanding

question 4

True/False

Because of the large amounts of resources devoted to understanding the nature of financial crises, researchers now feel comfortable making forecasts and do not expect to have any more surprises in the future.

Understand the concept of substitutes and complements in consumption and their impact on surplus.

Understand the concept of efficiency and its significance in economics.

Recognize the relationship between efficiency and equity, including the trade-offs involved.

Identify how prices serve as economic signals in markets.