Which of the following is always TRUE of rational behavior?
A. It always yields the best possible outcome for all individuals.
B. It never involves taking into account the interests of others.
C. It always entails pursuing one's own best interest.
D. It never involves the pursuit of greedy self-interest.
Answer: C
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Indicate whether the statement is true or false
A bond with no expiration date has a face value of $10,000 and pays a fixed 10 percent interest. If the market price of the bond rises to $11,000, the annual yield approximately equals:
A. 11 percent B. 10 percent C. 9 percent D. 8 percent
Draw a demand and supply curve for a competitive product, making sure to clearly label the axis. Give a brief explanation for why the resulting equilibrium is economically efficient
What will be an ideal response?
Economics is the study of
a. how the human race differs from other species b. how individuals amass personal fortunes in the stock market c. how individuals and nations deal with the problem of scarcity d. role that money plays in the economy e. how goods and services are distributed throughout the world