Which of the Following Is True

question 32

Multiple Choice

Which of the following is true?

• A)Economic reasoning implies that individuals will acquire all possible information about a choice before making it.
• B)It is not rational for people to make decisions that turn out to be mistaken.
• C)Reducing information costs to consumers and suppliers could permit more intelligent market decisions and lead to greater satisfaction.
• D)Occupational licensing laws generally act to protect misinformed consumers from getting shoddy services and enhances competition, leading to lower prices.
• E)All of the above are true.

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Definitions:

Gelatinous Layer

A viscous coating found on many aquatic organisms, which plays roles in protection and adhesion.

Ova

The female reproductive cells or eggs in animals and plants, capable of developing into a new individual upon fertilization.

Ovarian Follicle

A fluid-filled sac in the ovary that contains and nourishes an immature egg.

Socioeconomic Status

An individual or group's economic, social, and work status as determined by income, education, and occupation.