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Microfoundations Are

Question 20

Multiple Choice

Microfoundations are:


A) the rules that guide human behavior, similar to institutions.
B) a logically consistent set of models called for by neoclassical economists to explain how individual consumers and producers generated observed macroeconomic outcomes.
C) fundamental assumptions about how a social system operates.
D) what Keynes based his macroeconomic analysis on.

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