Economists Find That Models Based on the Assumption of Rational

question 16

Multiple Choice

Economists find that models based on the assumption of rational behavior are robust,because a world in which everyone is rational would function quite similarly to a world in which there are no

• A) unexploited profit opportunities.
• B) constraints due to scarcity.
• C) inefficient markets.
• D) barriers to free trade.

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Definitions:

Moral Virtue

Characteristics or qualities deemed to be morally good and valued as a foundation for good moral being.

Disgust

A strong feeling of aversion or repulsion, often in response to something perceived as offensive, contaminating, or immoral.

Facial Expressions

Visible changes in the face that convey a person's emotions, intentions, or social information.

Major League Baseball Players

Professional athletes who are members of the teams within Major League Baseball, the leading professional baseball organization in the United States.