The two main economic agents in the flow diagram are households and firms.
"How people say they feel about the economy is not an accurate reflection of what really motivates them as economic agents," he said.
(p161) "In the long run, the individual economic agent is dead.
Microeconomics can be seen as the study of how economic agents react to changes in relative prices.
Second, the population of economic agent to be persuaded must be small.
If this transformation takes place all economic agents can live happily.
Women are economic agents, although they are usually not perceived to be.
Rational expectations theory assumes a set of economic agents with beliefs about how the economy is working.
The problems discussed above arise even when inflation is fully anticipated by all economic agents.
Of course, it is normally quite impossible for all economic agents to anticipate fully the annual rise in the general price level.