Which of the following best describes an assumption economists make about human behavior?
A) They assume that people take into account the question of fairness in all decisions they make.
B) They assume that individuals act rationally all the time in all circumstances.
C) They assume that rational behavior is useful in explaining choices people make even though people may not behave rationally all the time.
D) They assume that individuals act randomly.
C
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The general shape of the aggregate supply curve is
a. downward sloping. b. upward sloping. c. vertical. d. horizontal.
What effect does the following transaction have on the U.S. balance of payments?(Choose the proper debit and credit entries.)U.S. residents purchase Mexican products and pay for them with Mexican pesos
a. Debit the U.S. financial account; credit the U.S. current account. b. Credit the U.S. financial account; debit the U.S. current account. c. Debit the U.S. financial account; credit the U.S. financial account. d. Credit the U.S. financial account; debit the U.S. financial account. e. Credit the U.S. financial account; debit the U.S. net errors and omissions account.