Which of the Following Statements Best Reflects Behavioral Economists' Views

question 261

Multiple Choice

Which of the following statements best reflects behavioral economists' views on self-interest versus the interests of others?

• A)Self-interest dominates human behavior; even seemingly selfless behavior is driven by self-interest.
• B)Most people care so deeply about others that self-interest is a minor consideration in their decision making.
• C)The system is most efficient when people focus solely on their self-interest and allow the invisible hand to work out what is best for society.
• D)People are always self-interested to a degree, but their behavior is also affected by moral and ethical considerations.

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Definitions:

Pecan Rolls

Sweet pastry rolls that are typically filled with a pecan mixture, often served as a dessert or snack.

Gyro

A traditional Greek dish made of meat cooked on a vertical rotisserie, often served with tomato, onion, and tzatziki sauce, wrapped in pita bread.

Utility

A measure of satisfaction or pleasure that a person gains from consuming goods and services.

Marginal Utility

The additional satisfaction or benefit (utility) a consumer gains from consuming one more unit of a good or service.