When economists assume that people are rational and respond to incentives, they mean:
A. people act with kindness.
B. people are altruistic.
C. people act in their own self-interest.
D. people are selfish.
Answer: C
Economics
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Which factor of production includes water?
A) physical capital B) human capital C) land D) entrepreneurship
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The following is an example of risk aversion
a. those applying for a well-paid job tend to be the most qualified b. more reckless drivers opt for cars with fewer safety devices c. the contractor with the lowest bid for a is the most qualified d. Initial Public Offerings (IPOs) seek investors when prospects look poor
Economics