Revealed Preference Is

question 71

Multiple Choice

Revealed preference is:

• A) the idea that people's preferences can be determined by observing their choices and behavior.
• B) the notion that people reveal the utility they get by reporting it on a numerical scale.
• C) the method that psychologists, anthropologists, and economists use to measure utility.
• D) All of these are true.

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Definitions:

RRSP

A financial plan in Canada designed to help individuals save for retirement, offering tax advantages.

Compounded Monthly

Interest that is calculated on the principal and the previously earned interest on a monthly basis, leading to the accumulation of increasingly larger amounts.

Month-end Withdrawals

Financial transactions to remove money from an account or investment at the end of the month, often for budgeting or payment purposes.

Investment Account

A financial account that is used for holding and transacting securities or other investment instruments.