It is assumed in economics that people make decisions based upon
A. altruism.
B. tradition.
C. perfect information about every aspect of the world.
D. rational self-interest.
Answer: D
You might also like to view...
Discrimination based on age, race, gender, or family status very likely increases as a result of rent ceilings
Indicate whether the statement is true or false
Technological changes that decrease minimum efficient scale
a. reduce concentration b. increase concentration c. increase product diversification d. increase the value of existing assets e. decrease the exchange rate
Which of the following is included in personal income but not in national income?
A. Compensation for workers. B. Proprietors' income. C. Corporate profits. D. Social Security payments.
The aggregate demand curve shows that when the price level rises, the quantity of real GDP demanded decreases.
Answer the following statement true (T) or false (F)