When economists say an individual has made a rational choice, they mean the individual has
a. made the choice by weighing their own subjective costs and benefits.
b. made a "good" decision, one that reasonable outside observers would have also made.
c. neglected to consider the unintended consequences arising from their decision.
d. ignored their own personal interests and made the choice that is best for society.
A
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When there are two large open economies, if desired international lending by the domestic country exceeds desired international borrowing by the foreign country, then
A) domestic saving must rise. B) domestic saving must fall. C) the world real interest rate must fall. D) the world real interest rate must rise.
In 2011, what percentage of federal government receipts came from corporate income taxes?
a. 7% b. 12% c. 25% d. 43%