One major assumption of economics is that people
A) act as if they systematically pursue self-interest.
B) behave randomly without any predictable pattern.
C) are sometimes rational and sometimes irrational.
D) always pursue the interests of others.
Answer: A
Economics
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Refer to Figure 6-12. The diagram shows two supply curves, SA and SB. As price rises from P0 to P1, which supply curve is more elastic?
A) They are equally inelastic. B) SB C) They are equally elastic. D) SA
Economics
To signal to your insurance company that you are a low risk individual, to secure a lower premium, you should
a. Accept an insurance policy with a high deductible b. Accept an insurance policy with a low deductible c. Accept an insurance policy with a co-payment d. Both A&C
Economics