To an Economist,it Is Preferable to

question 36

Multiple Choice

To an economist,it is preferable to

• A) assume that all criminals are rational.
• B) assume that all criminals are irrational.
• C) build a theory based on a rational criminal and then check the evidence.
• D) a or b

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Definitions:

Outputs Contract

An agreement in which the seller agrees to sell all of the production at its facility to a buyer, who agrees to purchase it, often used in industrial or farming contexts.

Oral Modify

The act of making changes or amendments to an existing contract through spoken agreement, as opposed to written modifications.

Debt Settlement

A negotiation process where a debtor and creditor agree on a reduced balance that will be considered as payment in full.

Uncertain Debt

A debt whose existence or amount is not clear or determined.