Economists believe that:
A) people who choose to promote the interests of others cannot be acting rationally.
B) people show concern only for those whom they know personally.
C) charitable donations would disappear if tax deductions for charitable giving were eliminated.
D) the notion of self-interest rules out concern for others.
E) concern for the welfare of others is consistent with the concept of self-interest.
Correct Answer:
Verified
Q56: Exhibit 1.1 Q57: The assumption that individuals act rationally implies Q58: Households: Q59: In the circular-flow model, firms demand all
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A) own and sell resources.
B) play a
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