To an economist, individuals are acting "rationally" if they are striving to do their best to achieve their goals
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
The Granger Cases of the 1870s
(a) sealed the fate of the U.S. railroad system, even though the cases were covered under a case involving a grain elevator. (b) came before the U.S. Supreme Court because state legislatures had passed laws in the 1870s to allow state agencies to control various aspects of railroad operation, including rate setting; these laws were then challenged by railroad companies. (c) established the principle that railroads were unquestionably subject to permanent regulation. (d) are true for all of the above.
Social Security transfers wealth from younger generations to older generations
a. True b. False Indicate whether the statement is true or false
John raises bees to pollinate his orchard. A couple of bees which escaped ended up pollinating his neighbor's orchard, so
A) John's neighbor has received an internal cost of John's bee-keeping. B) John's neighbor has received an external cost of John's bee-keeping. C) John's neighbor has received an external benefit of John's bee-keeping. D) None of the above is correct.
Contractionary fiscal policy can lead to a depreciation of the nation's currency
Indicate whether the statement is true or false