The "self-interest theory" considers an act to be rational if
A. it is an efficient pursuit of whatever aims one has at the moment of deliberation and action.
B. it efficiently promotes the ongoing material interest of the person who performs it without the requirement that social justice be achieved.
C. it conforms to generally accepted views of justice and also serves one's interests.
D. the act was done while the person was sane and coherent.
Answer: B
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Which of the following is not primarily a function of the federal government
a. national security b. higher education c. economic stability d. market competition e. all of the above are functions of the federal government
If nations trade on the basis of comparative advantage
A. a nation can gain only at the expense of trading partners. B. exporting nations gain and importing nations lose. C. importing nations gain and exporting nations lose. D. all trading partners mutually gain.
If the opportunity cost of producing a good domestically exceeds the opportunity cost of purchasing it on the world market, a country can gain by
A. decreasing production and increasing imports. B. increasing production and decreasing imports. C. decreasing production and increasing exports. D. increasing production and decreasing exports.
The quantity of a good demanded in a given time period increases as the price falls, which is known as:
A. Say's Law. B. The law of ceteris paribus. C. The law of demand. D. The opportunity cost.