The Notion of "Purposeful Behavior" in the Economic Perspective Suggests

question 220

Multiple Choice

The notion of "purposeful behavior" in the economic perspective suggests that

• A) people will tend to stick with a particular choice for a long period of time.
• B) economic analysis will provide people with a single "right" way to behave.
• C) economists do not believe that people can sometimes behave impulsively.
• D) one person's choice may differ from another's if their circumstances and information differ.

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Definitions:

Import Restrictions

Measures imposed by a government to control the quantity of goods coming into a country, often to protect domestic industries.

Trade Deficit

An excess of imports over exports.

Capital Flight

A large and sudden reduction in the investment of assets in a country, often due to political or economic instability.

Exchange Rate

The worth of one currency when converted to another.