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.
A
Economics
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An increase in a consumer's income creates a
A) rightward parallel shift of the budget line. B) leftward parallel shift of the budget line. C) rightward rotation of the budget line, so that the budget line becomes steeper. D) leftward rotation of the budget line, so that the budget line becomes steeper.
Economics
If expected inflation declines by 2%, what should happen to nominal interest rates according to the Fisher effect?
A) rise by 2% B) fall by 2% C) be cut in half D) double in size
Economics