Multiple Choice
Economic theory
A) expresses normative values
B) invents imaginative and interesting stories
C) predicts the behavior of a specific economic decision maker after an economic change
D) predicts the average behavior of a group of similar economic decision makers after an economic change
E) uses only perfect and complete information
Correct Answer:
Verified
Correct Answer:
Verified
Q2: In an economic model of consumer behavior,
Q3: The economic behavior of individual decision makers
Q4: Because people's wants are unlimited but resources
Q5: Economics<br>A)studies human behavior when scarcity exists and
Q6: Someone who committed the association-is-causation fallacy might
Q7: Economics is the study of<br>A)how to get
Q8: Economists classify all of the following as
Q9: Secondary effects are consequences of economic actions
Q10: According to a 2011 PayScale.com survey, the
Q11: A resource is something that<br>A)is used to