According to economists, economic self-interest:
A. is a really that underlies economic behavior B. has the same meaning as selfishness C. is more characteristics of men than of woman D. is usually self-defeating
According to Emerson: “Want is a growing giant whom the coat of Have was never large enough to cover.” According to economists, “Want” exceeds “Have” becuase:
A. People are greedy B. Productive resources are limited C. Human beings are inherently insecure D. People are irrational
When economists say that people act rationally in their self interest, they mean that individuals———-?
A. Look for and pursue opportunities to increase their utility B. Generally disregard the interests of others C. are mainly creatures of habit D. are unpredictable
In economics, the pleasure, happiness, or satisfaction received from a product is called——–?
A. Marginal cost B. Rational outcome C. Status fulfilment D. Utility
For economists, the word “Utility” means:
A. Versatility and flexibility B. Rationally C. Pleasure and satisfaction D. Purposefulness
Who is called the father of Economics?
A. J.P Kense B. David Ricordo C. Adam Smith D. Mankew
One percentage decrease in unemployment is associated with two percentage points of additional growth in real GDP is called?
A. Okun's Law B. Classical theory C. Consumer price index D. None of these