Economists Assume That Rational Behavior Is Useful in Explaining Choices

question 38

Multiple Choice

Economists assume that rational behavior 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.

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Definitions:

Prime-Time Television

The time period in television programming that captures the highest viewership, typically evening hours when audiences are the largest.

Surveys

Research methods involving the collection of data from a sample of individuals through their responses to questions.

Subjective

Influenced by personal feelings, tastes, or opinions.

Serendipity

The occurrence of events by chance in a happy or beneficial way, often leading to unexpected and serendipitous discoveries.