Economists believe that individuals:
A) aim to maximize social welfare.
B) aim to maximize their material consumption.
C) are motivated by self-interest and rational behavior
D) are motivated by altruism and selflessness.
E) always ensure an efficient allocation of resources in the market economy.
Correct Answer:
Verified
Q28: Individuals:
A)respond to incentives in predictable ways.
B)increase the
Q29: Suppose the government decides to impose a
Q30: Scarcity:
A)occurs only in command economies
B)can be eliminated
Q31: A tax cut will lead to higher
Q32: A person behaving rationally will:
A)always avoid illegal
Q34: Economists believe that individuals:
A)are motivated primarily by
Q35: When economists speak of markets, they primarily
Q36: Which of the following is an example
Q37: Economists assume that when people act rationally
Q38: Incorrect. Economics is the study of the
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