In Order to Determine Whether to Major in Economics, a Rational

question 77

Multiple Choice

In order to determine whether to major in economics, a rational individual compares the ________ of the decision.

• A) marginal benefit and marginal cost
• B) normative benefits and positive costs
• C) self-interest and social interest
• D) positive benefits and normative costs
• E) opportunity cost and the sunk cost

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Definitions:

Optimism

A mental attitude characterized by hope and confidence in success and positive outcomes.

Independence

The state or quality of being self-sufficient and not reliant on others for decision-making or support.

Emotional Self-awareness

The capability of recognizing and understanding one's own emotions, which is a key component of emotional intelligence.

Reality Testing

A psychological process through which an individual distinguishes between what is externally present and what is internally generated by the mind.