Economists Assume That People

question 76

Multiple Choice

Economists assume that people

• A)act to maximize marginal utility.
• B)experience diminishing marginal utility of income.
• C)act to increase utility.
• D)cannot compare the value of goods.
• E)prefer less to more.

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Definitions:

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical harassment of a sexual nature in the workplace or educational settings.

Elderly Grandmother

A senior female relative who is a grandparent, often associated with wisdom and family history.

Enforced

The act of implementing or compelling compliance with a law, rule, or obligation.

Consideration

Something of value given by both parties to a contract that induces them to enter into the agreement to exchange mutual performances.