Which of the Following Is Not True About New Institutional

question 29

Multiple Choice

Which of the following is not true about New Institutional Economics?

• A) It is made up of agents who use rational choice.
• B) It examines how individuals within the household behave.
• C) It considers how workers who are already employed make their decisions regarding how much or how hard to work.
• D) It is a combination of law,economics,and organization.
• E) It assumes agents have a limited ability to calculate the consequences of their actions.

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Definitions:

Expectancy Theory

A motivational theory suggesting that an individual's behavior is determined by their expected outcomes and the attractiveness of those outcomes.

Motivation

The internal and external factors that stimulate desire and energy in people to be continually interested and committed to a job, role or subject, or to make an effort to attain a goal.

Skills

Abilities or expertise developed through practice or training that enable a person to perform tasks effectively.

Personal Mission Statement

A concise summary of an individual's core values and purposes, guiding their behaviors and decisions.