Author Question: When economists assume that people are rational and respond to incentives, they mean A) people ... (Read 89 times)

RYAN BANYAN

  • Hero Member
  • *****
  • Posts: 563
When economists assume that people are rational and respond to incentives, they mean
 
  A) people act with kindness. B) people act in their own self-interest.
  C) people are altruistic. D) people are selfish.

Question 2

Consider two economies: A and B. In economy A, the work culture is such that people do not mind working for 12 hours a day. On the contrary, in economy B, people work for a maximum of 6 hours in a day. If the culture hypothesis holds, then:
 
  A) the growth rate in both economies are likely to fluctuate randomly.
  B) economy A is likely to grow faster than economy B.
  C) economy B is likely to grow faster than economy A.
  D) both economies are likely to grow at the same rate.


jordangronback

  • Sr. Member
  • ****
  • Posts: 339
Answer to Question 1

B

Answer to Question 2

B



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

Elderly adults are living longer, and causes of death are shifting. At the same time, autopsy rates are at or near their lowest in history.

Did you know?

Most childhood vaccines are 90–99% effective in preventing disease. Side effects are rarely serious.

For a complete list of videos, visit our video library