Author Question: When economists assume that people are rational and respond to incentives, they mean A) people ... (Read 87 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?

The use of salicylates dates back 2,500 years to Hippocrates’s recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

Did you know?

The B-complex vitamins and vitamin C are not stored in the body and must be replaced each day.

Did you know?

Carbamazepine can interfere with the results of home pregnancy tests. If you are taking carbamazepine, do not try to test for pregnancy at home.

Did you know?

Human stomach acid is strong enough to dissolve small pieces of metal such as razor blades or staples.

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

For a complete list of videos, visit our video library