The Hypothesis That People Are Nearly, but Not Fully Rational

question 33

Multiple Choice

The hypothesis that people are nearly, but not fully rational, cannot possibly fully examine every available choice, and utilize simple rules of thumb in making decisions is known as the

• A) irrationality hypothesis.
• B) ceteris paribus hypothesis.
• C) individual aggregation hypothesis.
• D) bounded rationality hypothesis.

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Definitions:

Mexicans

Referring to the people of Mexico or persons of Mexican descent, their culture, or nationality.

Large-Scale Entry

Refers to entering or participating in a market or industry on a extensive scale, typically implying significant resources or capacity.

Spanish-American War

A conflict in 1898 between Spain and the United States, triggered by America's intervention in Cuba's struggle for independence.

Koreans

Individuals or peoples originating from Korea, a region in East Asia divided into two separate nations, North Korea and South Korea.