Rational Self-Interest Means

question 103

Multiple Choice

Rational self-interest means

• A) always increasing your wealth.
• B) pursuing what makes you better off.
• C) pursuing activities that maximize income.
• D) always pursuing activities that are consistent with your faith.

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Definitions:

Trade Restrictions

Trade restrictions are government-imposed limitations on the international exchange of goods and services, such as tariffs, quotas, embargoes, or standards.

Import Tariff

A tax levied by a nation on goods imported into the country.

Balance of Trade

The difference in value between a country's imports and exports over a certain period, indicating its trading position with the rest of the world.