Economists Assume That Rational Behaviour Is Useful in Explaining Choices

question 86

Multiple Choice

Economists assume that rational behaviour is useful in explaining choices people make:

• A)because irrational people do not make economic choices.
• B)even though people may not behave rationally all the time.
• C)because individuals act rationally all the time in all circumstances.
• D)even though people rarely, if ever, behave in a rational manner.

Understand the factors influencing intelligence and IQ measurement.

Identify and describe conditions impacting early brain development.

Recognize different types of psychological assessments and their purposes.

Explain the concepts of giftedness and special abilities.

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Definitions:

Tax Liability

The total amount of taxes owed by an individual, corporation, or other entities to the taxing authority.

Qualified Dividends

Dividend payments received from shares of stock held for a certain period of time which are taxed at the lower capital gains tax rate rather than ordinary income tax rates.

Taxable Income

The portion of an individual's or entity's income subject to taxation after all deductions and exemptions.

Taxable Income

The portion of income that is subject to tax, after accounting for deductions and exemptions.