Which of the Following Statements Is True

question 94

Multiple Choice

Which of the following statements is true?

• A) Rational economic agents maximize more than just monetary income.
• B) An individual does not require information to make optimal decisions.
• C) The principle of optimization is only accurate when it comes to making monetary decisions.
• D) It is not necessary to consider the risks of alternatives while making an optimal decision.

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Definitions:

Communicating Expectations

Refers to the process of clearly and effectively outlining and sharing the goals, roles, and responsibilities expected within an organization or between individuals.

Postconventional Level

A stage in moral development where individuals make ethical decisions based on universal principles and internalized morals rather than conforming to societal or authority-driven standards.

Moral Development

The process by which individuals evolve their understanding of what is right and wrong, often described through stages by psychologists.

Ethnocentric

Holding the belief that one's own culture or nationality is superior to others, often leading to judging other cultures solely by the values and standards of one's own culture.