Economists generally assume that people make:
A) predictable, repeatable decisions that cannot be modeled.
B) predictable, repeatable decisions that can be modeled.
C) unpredictable, repeatable decisions that can be modeled.
D) unpredictable, repeatable decisions that cannot be modeled.
E) predictable, unrepeatable decisions that cannot be modeled.

Question

Quizplus · Accepted Answer

Economists generally assume that people make predictable, repeatable decisions that can be modeled, based on the principle of rational decision-making. Rational decision-making assumes that individuals make choices that maximize their utility and that these choices are consistent and can be modeled. However, this assumption may not always hold true in certain situations where individuals may make impulsive or irrational decisions.

Economists Generally Assume That People Make