Economists believe that individuals act as if they are motivated:
a. primarily by the opinions of their peers
b. primarily by human emotions.
c. primarily by self-interest.
d. only by concern for the larger community.
c
You might also like to view...
Which of the following would not be considered price discrimination?
a. setting separate rates for residential and commercial uses of electricity b. giving a senior citizen discount at restaurants c. renting recently released videos at a higher price than the old classic videos d. giving children a discount at the movies e. giving students a discount on ski lift tickets
To answer the question, refer to the following table showing a demand schedule: 
As output increases from 1,000 to 1,400 what is marginal revenue?
A. -$75 B. $50 C. -$400 D. -$25 E. $25
Using Figure 9.9, and assuming the full-employment output level is $50 billion,
A. There is a recessionary gap of $50 billion income. B. The economy is at macro equilibrium. C. There is an inflationary gap of $25 billion income. D. There is an inflationary gap of $50 billion income.
One principle of economic growth is the notion that, to raise living standards over time, an economy must:
A.
Have full employment of its labor force
B.
Devote some portion of its current output to increasing its future output
C.
Maintain low inflation over the years
D.
Have a small population so that its GDP per person will be high