Adam Smith's Behavioral Assumption About Humans Was That People

question 237

Multiple Choice

Adam Smith's behavioral assumption about humans was that people

• A)typically act irrationally.
• B)usually act in a rational, self-interested way.
• C)are consistently greedy.
• D)typically act randomly.

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Definitions:

Population Parameters

Characteristics or measures that describe aspects of a statistical population, such as mean, variance, or standard deviation.

Proposed Package

A suggested set of measures, items, or conditions put forward for consideration or acceptance.

Percentage

A proportion or share expressed as a fraction of 100.

Inferential Statistics

The branch of statistics that allows making predictions or inferences about a population based on a sample of data drawn from that population.