An Economist Who Is Most Likely to Believe That People

question 10

Multiple Choice

An economist who is most likely to believe that people will never find $200 lying on the street is referred to as:

• A) a modern economist.
• B) a mathematical economist.
• C) an engineering economist.
• D) a traditional economist.

---

Definitions:

Subjective Standard

A standard for decision-making that is based on personal feelings, tastes, or opinions, varying from person to person.

Objective Standard

A legal benchmark that uses a reasonable person's perspective to evaluate an individual's actions or decisions in a given situation.

Condition Subsequent

A condition in a contract that, upon occurrence, terminates the contract or an obligation within the contract.

Real Estate Contracts

Legally binding agreements related to the purchase, sale, lease, or exchange of real property.