A Rational Decision Is One That

question 271

Multiple Choice

A rational decision is one that

• A)satisfies all desires.
• B)avoids the intentional allocation of resources.
• C)assigns available resources in the manner most preferred by decision makers.
• D)assigns available resources to the uses with the lowest opportunity costs.

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Definitions:

Rent-Seeking Behavior

Rent-seeking behavior involves seeking to increase one's share of existing wealth without creating new wealth, often through manipulating the social or political environment in which economic activities occur.

Government Benefits

Various forms of financial support or services provided by the government to individuals, such as healthcare, social security, and unemployment aid.

Paradox Of Voting

The phenomenon that questions the rationality of voting, considering that the probability of one vote changing the outcome of an election is very low.

Political Corruption

The unlawful misdirection of government resources, or actions that occur when government officials abuse their entrusted powers for personal gain.