In his book "An Inquiry into the Nature and Causes of the Wealth of Nations," economist Adam Smith argued that individuals
A) always consider the impact of their actions on the welfare of others.
B) act as if motivated by self-interest.
C) never consider the impact of their actions on the welfare of others.
D) are usually not concerned with economic questions.
Correct Answer:
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Q47: Macroeconomists study which of the following?
A)the impact
Q48: Economists typically assume people act as if
Q49: If people make their choices rationally,then
A)the behaviour
Q50: Economists assume people behave rationally.Rationality means that
Q51: In economics,the idea that individuals respond predictably
Q53: Macroeconomics is best defined by which of
Q54: One topic of study for a microeconomist
Q55: A decision made by a rational individual
A)never
Q56: In building economic models,economists assume people behave
A)instinctively.
B)rationally.
C)irrationally.
D)greedily.
Q57: A macroeconomist would be most likely to
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