If Preferences Exhibit the Property of Transitivity, Then

question 39

Multiple Choice

If preferences exhibit the property of transitivity, then

• A)the preferences are irrational.
• B)people prefer more government involvement in markets than do people whith non-transitive preferences.
• C)preferences satisfy one of the properties assumed to be desirable by Kenneth Arrow.
• D)preferences change over time faster than when preferences are not transitive.

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Definitions:

Ignoring

Deliberately paying no attention to something or someone.

Permissive-Indulgent

A parenting style characterized by high responsiveness but low demandingness, where parents are nurturing and accepting but provide few guidelines and rules.

Inductive Techniques

Methods based on observations used to arrive at general conclusions or theories.

Appropriate Behavior

Conduct that is considered socially acceptable and in line with established norms.