Multiple Choice
"Goal-oriented behavior" can best be described as:
A) market participants using complete information to achieve objective ends.
B) market participants using available information to achieve their personal aims.
C) market participants trying to maximize social welfare.
D) all market participants maximizing their efficiency to improve aggregate income.
Correct Answer:

Verified
Correct Answer:
Verified
Q37: The implicit cost of time spent on
Q38: The real price of a good reflects:<br>A)the
Q39: The relative price of a good:<br>A)is always
Q40: In the production possibility frontier in Figure
Q41: Jane can either bake 10 mango tarts
Q43: The test of a theory is whether:<br>A)its
Q44: When analyzing events across time,economists measure consumer
Q45: Opportunity cost is the equivalent of:<br>A)explicit cost.<br>B)implicit
Q46: After spending $5 million developing a new
Q47: The downward slope of the production possibility