Answer:
B. People do not like to act predictably, even with perfect information.
Explanation:
Rational choice theory states that people tend to make logical calculations when they are trying to make choices. This is aimed at making sure that choices made are in line with their objectives.
The expectation is to provide the individual with greatest satisfaction.
Therefore people choose the optimal solution and not just the acceptable one.
The individual's ability to conduct analysis can limit their rationality.
However the statement that people do not act rationally even with perfect information is in conflict with the rational choice theory
Answer:
d. sold bonds to decrease banks reserves.
Explanation:
The Fed uses contractionary Open market operations to contain runaway inflation. The Fed sells bonds and securities to the banks to reduce the amount of money available for credit in the economy. The bank will use funds that should be loaned out to purchase government bonds, thereby denying individuals and firms a chance to borrow from the banks.
If the Fed wants to reduce the money supply in the economy, it issues out bonds and security at attractive interest rates. The banks will opt to invest with the government, which is risk-free rather than loan out to households and firms. By selling bonds and securities, the Fed mops out all the excess money in the economy.
Answer:
The free rider problem
Explanation:
The free rider problem is a form of market failure in economics. It means that there's an insufficient form of commodity distribution in which some individuals are allowed to consume more than their fair share of the shared resources or pay less or not at all than the fair share of cost. In this case, tomatoes are overgrown and the common plot is over used, thus making individually owned plot perform better than the common plot. The whole free rider scenario occurs when those who benefits from communal services and goods do not pay for them or underpay for them and over use them.
Structured interviews are more formal interview processes where questions are typically created in advance and scoring systems are used to evaluate candidates. Unstructured interviews usually involve less formal conversations with candidates, and the question and answer part of the interview is generally more spontaneous.
A major benefit of a structured interview process is that you know there is greater consistency in the tools used to compare candidates. By using the same format and questions, the interviewer can compare each candidate's approach and answers under the same microscope lens. While candidates sometimes react differently to this style, it works well for an interviewee to show off technical proficiency for a technical position.
Unstructured interviews typically allow for more personal interaction and rapport-building with hiring managers. While the objective of an interview isn't to make a new friend, it does help the hiring manager to see if he would enjoy working with you. You can also give the interviewer a better sense as to whether you would fit into the existing group of employees. Plus, building rapport, such as in sales and service jobs, is often important in the job and should be part of the assessment.
