Economics

question 5

Multiple Choice

Economics

• A)studies human behavior when scarcity exists and choices must be made
• B)provides the only reasonable explanation of how people make decisions
• C)can accurately explain all human behavior since it is based on the assumption of rationality
• D)is better at showing the way things ought to be than the other social sciences are
• E)is the only social science that can explain the existence and behavior of public institutions

---

Definitions:

Health-Care Power of Attorney

A legal document that grants an individual the authority to make medical decisions on behalf of another person if they become incapacitated.

Constructive Trust

An equitable remedy imposed by a court to address unjust enrichment, requiring one party to hold property for the benefit of another when fairness demands it.

Discretionary Investment Power

The authority granted to manage and make investment decisions on behalf of someone else, typically within specified parameters.

Conservative Debt Securities

Investments in fixed-income securities that are considered low risk, typically issued by government entities or stable corporations.