Economic analysis assumes that
a. individuals act only out of selfish motives.
b. although individuals are at times selfish and at times unselfish, only their selfish actions may be predicted.
c. people are basically humanitarian, and their actions are, therefore, impossible to predict.
d. changes in the personal benefits and costs associated with a choice will exert a predictable influence on human behavior.
D
You might also like to view...
The labor force participation rates of men have gradually increased since 1948
Indicate whether the statement is true or false
When the economy's actual price level exceeds the expected price level in the short run: a. the real wages of workers decline
b. the nominal wages of workers increase. c. firms decrease output below the potential level. d. the economy produces the natural rate of output. e. cyclical unemployment in the economy falls to zero.