Is rational self-interest the same thing as selfishness? Explain
Please provide the best answer for the statement.
No, they are not the same. Selfishness means that a person is only concerned with himself or herself to the exclusion of others. Rational self-interest simply means that people strive to achieve personal satisfaction. This personal satisfaction can be achieved in many ways, from both selfish and unselfish acts. For example, a person may be unselfish and volunteer time to help other people or make donations to charities because the person derives personal satisfaction from doing so. In this case the person is not being selfish, but is acting to maximize the person’s well-being by helping others.
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Game theory provides tools that are used to model:
A. the cost functions faced by firms. B. consumer demand. C. strategic interdependencies. D. the behavior of perfectly competitive firms.
When the dollar appreciates relative to foreign currencies, it means that ________.
A. foreigners need less of their currency to buy one dollar B. we can buy less foreign currency with a given amount of dollars C. we need more dollars to buy each unit of another currency D. the value of foreign currencies decreased relative to our dollar
Technological advances in recycling make it possible to produce a greater quantity of paper from a given quantity of recycled newspapers. Predict the likely impact on the supply curve for paper. a. There is a movement down along the supply curve. b. There is a movement up along the supply curve. c. The supply curve shifts to the left
d. The supply curve shifts to the right.
Which of the following would be most likely to induce Congress and the president to conduct expansionary fiscal policy? A significant
A) increase in net exports. B) decrease in investment spending. C) decrease in oil prices. D) increase in consumption spending.