Rational Choice Implies

question 140

Multiple Choice

Rational choice implies:

• A) the use of an economic model.
• B) making decisions aimed at achieving some predetermined goal.
• C) that only monetary costs and benefits are weighed.
• D) that the individual will never regret any action taken.
• E) that scarcity can be eliminated for that individual.

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Definitions:

Lisp

A speech impediment that affects the pronunciation of sibilants, causing them to be pronounced with a "th" sound.

Magical Thinking

The belief that one's thoughts, wishes, or desires can influence the physical world; common in children and certain psychiatric conditions.

All-Powerful

Having complete power and influence over others or situations; omnipotent.

Cause And Effect

A relationship between two phenomena where one event (the cause) directly results in another event (the effect).