What Is NOT True About Rational Choice

question 31

Multiple Choice

What is NOT true about rational choice?

• A) It can result in different decisions for different individuals.
• B) It involves comparing costs and benefits.
• C) It might turn out not to have been the best choice after the event.
• D) It is a choice that uses the available resources to best achieve the objective of the person making the choice.
• E) It is the same for all individuals.

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Definitions:

Gross Pay

The total amount earned by an employee before any deductions, such as taxes and social security, are applied.

Current Assets

Assets that are expected to be converted into cash, sold, or consumed within one year or the operating cycle, whichever is longer.

Hourly Wage Rate

The amount of money paid to an employee for every hour worked, typically applied to part-time or contract workers.

Gross Pay

The total amount earned by an employee before any deductions or taxes are taken out.