The Black Death Refers to ________

question 52

Multiple Choice

The Black Death refers to ________.

• A) the famine that occurred from 1315 to 1317
• B) a virulent plague that struck fourteenth-century Europe
• C) a disease transmitted through African slaves
• D) the collapse of the European economy in the fourteenth century

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Definitions:

Rational Behavior

A theory in economics suggesting that individuals make decisions based on maximizing utility and firms aim to maximize profits.

Smooth Convex Preferences

Preferences characterized by continuous and consistently increasing utility, indicating a reasoned and balanced choice pattern.

Borrow

The act of receiving something of value in exchange for the promise to return it or its equivalent value at a later date.

Lend

The act of giving money or goods to someone with the expectation that it will be paid back in the future.