1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
grigory [225]
3 years ago
15

Which of the following statements best demonstrates the concept of bounded ​rationality?

Business
1 answer:
vitfil [10]3 years ago
8 0

Answer:

The correct answer is option B.

Explanation:

Individuals always make decisions that they believe would make them better off. They never make any decision intentionally that makes them worse off.

But while making decisions the individuals cannot examine all the choices available to them because it will take too much time. So they generally follow the rules of thumb while making decisions.

Individuals often make short run decisions which are not compatible to their long term goals. This is an example of bounded rationality.

You might be interested in
Which of the following is not correct? a. The consumer price index gives economists a way of turning dollar figures into meaning
Marina CMI [18]

Answer:

The consumer price index is used to measure the quantity of goods and services that the economy is producing.

Explanation:

CPI  or consumer price index is a measure of changes in the average prices of a basket of products and services in a given time. The selected goods and services are a fair representation of consumption expenditure in the economy. Economists use the CPI as a Macroeconomic indicator of inflation.

As a measure of inflation, the CPI statistics communicate increases or decreases in the prices of goods and services in the economy. It forms a basis for policy decisions by the government that aid in the prevention of reduced purchasing power of the dollar.  CPI is all about changes in prices and nothing to do with the production of goods and services.

5 0
4 years ago
Which of the following transactions is reported on the government-wide financial statements? Multiple Choice An interfund loan f
Anettt [7]

Answer:

The correct answer is the third option: The City Airport Fund, an enterprise fund, transfers a portion of boarding fees charged to passengers to the General Fund.

Explanation:

To begin with, the name of "government-wide financial statements" is refered to the type of statements that bring all the financial activity together in one single place with the purpose to report certain economic information so that the people in charge of certain things can go and see all that information in order to use as a tool for the decision making process when the case arise. Moreover, this type of statements are the ones who organized all that information depending on whether it comes from the activities done by the government or done by the companies and businesses of the nation.

4 0
4 years ago
A drug test employed by an organization in its hiring process is an example of a(n) _______ control.
ankoles [38]

Answer: human

Explanation:

5 0
2 years ago
Which task does a busser generally perform?
Vera_Pavlovna [14]

If your taking about resturants a busser usually buss tables meaning they clean and make sure the table is nice and clean for the next customer who arives.

6 0
4 years ago
A regional airline owns 10 aircraft and employs 20 pilots. The airline makes an average of three trips per day with each of its
marishachu [46]

Answer:

a short-run decision because the number of aircraft is held constant while the labor input is changed.

Explanation:

In the short run, at least one variable or factor of production is fixed and cannot be changed. In the long run, all factors of production can be changed.

In this case, the number of aircraft is the fixed factor of production (capital) while labor is variable because more pilots can be hired. Regulation state that pilots must rest a certain amount of time in between flights, so if you want to increase the amount of flights you need to hire more pilots and cabin crews since regulations do not require planes to rest.

6 0
3 years ago
Other questions:
  • Misty, Ibtihaj, and Taraji, all African Americans, work in the advertising department of a large cosmetics company with a multi-
    12·1 answer
  • Executive pay has drawn public scrutiny in recent years. Which of the following statements best explains the reason?A. Top execu
    13·1 answer
  • Alpha Corporation reported the following data for its most recent year: sales, $630,000; variable expenses, $280,000; and fixed
    8·1 answer
  • During a period of consistently rising prices, the method of inventory that will result in reporting the greatest cost of mercha
    13·1 answer
  • Last month Carlos Company had a $60,000 profit on sales of $300,000. Fixed costs are $120,000 a month. What sales revenue is nee
    14·1 answer
  • What other cost categories are not reflected in the budget above? And how much do you estimate they will cost
    6·1 answer
  • ‘In 1999 the UK government
    14·1 answer
  • The ability to interact, be responsible, persevere, be a team player, be motivated, and problem solve are examples of __________
    11·2 answers
  • ________ is the amount of data that can be transmitted across a transmission medium measured in bits per second.
    13·1 answer
  • Marjorie's Mugs sold 300 mugs last year for $20 each. Variable costs were $7 per mug and total fixed costs were $1,700. Marjorie
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!