Which of the Following Is True

question 58

Multiple Choice

Which of the following is true?
i.A rational choice is always made in the pursuit of social interest.
ii.Economics is a social science.
iii.Economists try to understand how the economic world works by testing positive statements.

• A) ii and iii
• B) only i
• C) only ii
• D) only iii
• E) i and ii

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Definitions:

Wealthy

Having a substantial amount of money, resources, or assets; rich.

Poverty Threshold

The lowest amount of money required to maintain a satisfactory quality of life in a specific country.

Household Size

The number of individuals living in a single domestic unit, whether related by blood, marriage, adoption, or cohabitation.

Cost of Living

Refers to the amount of money needed to cover basic expenses such as housing, food, taxes, and healthcare in a certain place and time.