Which of the Following Statements Best Reflects Behavioral Economists' Views

question 261

Multiple Choice

Which of the following statements best reflects behavioral economists' views on self-interest versus the interests of others?

• A)Self-interest dominates human behavior; even seemingly selfless behavior is driven by self-interest.
• B)Most people care so deeply about others that self-interest is a minor consideration in their decision making.
• C)The system is most efficient when people focus solely on their self-interest and allow the invisible hand to work out what is best for society.
• D)People are always self-interested to a degree, but their behavior is also affected by moral and ethical considerations.

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Definitions:

Olive Oil

A liquid fat obtained from olives, used in cooking, cosmetics, pharmaceuticals, and soaps, and as a fuel for traditional oil lamps.

Imported

Refers to goods or services brought into one country from another.

Trading Bloc

Consists of those countries that have signed a particular trade agreement.

Trade Activities

Various operations and transactions involved in the buying, selling, or exchange of goods and services between businesses, countries, or entities.