Adam Smith's Behavioral Assumption About Humans Was That People

question 237

Multiple Choice

Adam Smith's behavioral assumption about humans was that people

• A)typically act irrationally.
• B)usually act in a rational, self-interested way.
• C)are consistently greedy.
• D)typically act randomly.

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Definitions:

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States during the 1930s in response to the Great Depression.

1929

The year marked by the Wall Street Crash, leading to the onset of the Great Depression impacting the global economy.

1933

The year notable for the depth of the worldwide Great Depression and the implementation of the New Deal in the United States.

Transfer Payment

A payment made by governments to individuals without any services or goods being received in return, often part of social welfare programs.