The Assumption of Rational Behavior

question 35

Multiple Choice

The assumption of rational behavior:

• A)offers a perfect framework for economists to evaluate human decision making.
• B)helps economists explain a lot about the real world by assuming that people behave in the way that will best achieve their goals.
• C)explains why people voluntarily engage in decisions for which costs exceed benefits.
• D)is best applied to psychology and should not be used in the science of economics.

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Definitions:

Hemoglobin

The protein that carries oxygen in red blood cells.

Evolutionary Force

Any factor that brings about changes in the genetic makeup of a population, aiding in evolution.

Inheritance Of Acquired Characteristics

A discredited biological hypothesis originally proposed by Jean-Baptiste Lamarck, suggesting that traits developed during an organism's life can be passed on to its offspring.

Jean-Baptiste Lamarck

A French naturalist who proposed an early theory of evolution, suggesting that organisms could pass on traits acquired in their lifetime to their offspring.