Is rational self-interest the same thing as selfishness? Explain
Please provide the best answer for the statement.
No, they are not the same. Selfishness means that a person is only concerned with himself or herself to the exclusion of others. Rational self-interest simply means that people strive to achieve personal satisfaction. This personal satisfaction can be achieved in many ways, from both selfish and unselfish acts. For example, a person may be unselfish and volunteer time to help other people or make donations to charities because the person derives personal satisfaction from doing so. In this case the person is not being selfish, but is acting to maximize the person’s well-being by helping others.
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Total cost falls when marginal cost is ________, and total cost rises when marginal cost is ________
A) negative; positive B) positive; negative C) zero; negative D) zero; positive
When Maria deposits $100 in currency in her checkable deposit at Bank of America, the immediate effect is that the quantity of M1 ________ because ________
A) changes only if Bank of America has excess reserves; if the bank does not have excess reserves, the overall effect to M1 is too small to notice B) decreases; checkable deposits are included in M2 but are not included in M1 C) does not change; both currency and checkable deposits are included in M1 D) changes, but the direction of the change cannot be determined; the direction of the change depends on what Bank of America does with the deposit E) increases; both currency and checkable deposits are included in M1