In a Traditional Economic View

question 53

Multiple Choice

In a traditional economic view:

• A)there is no such thing as a bad choice.
• B)choice architecture is ineffective.
• C)revealed preference shows researchers what the bad choices are.
• D)All of these statements are true.

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Definitions:

Uncertainty

The state of having limited knowledge where it is impossible to exactly describe the existing state, a future outcome, or more than one possible outcome.

Cultural Hazard

Risks to health or safety arising from the cultural practices, beliefs, or societal norms of a group.

Floods

Natural disasters characterized by the overflow of water that submerges land usually dry under normal conditions, often due to heavy rainfall or the melting of snow.

Drugs

Substances used for medical treatment, or substances that cause changes in perception, mood, or consciousness when abused.