Multiple Choice
Your best friend buys you lunch on your birthday.You think this was not a free lunch because:
A) even if you didn't pay dollars for it,you paid for it in extra calories.
B) the resources used to produce the lunch were not available to satisfy other wants.
C) you disagree with the expression "The best things in life are free."
D) you can eat only if you work out first.
E) neither sea water nor air is free.
Correct Answer:
Verified
Correct Answer:
Verified
Q14: Unlike a "service, " a "good"<br>A)is desirable<br>B)uses
Q104: Someone who commits the fallacy of composition
Q105: Economics is the only social science and
Q106: A fallacy of composition involves assuming that:<br>A)you
Q107: In economics,marginal means:<br>A)incremental.<br>B)unimportant.<br>C)level or size.<br>D)a borderline situation.<br>E)a
Q110: As resources are scarce,_.<br>A)opportunity costs are zero.<br>B)people
Q111: You currently subscribe to two magazines and
Q112: To say that people make decisions at
Q113: Rational choice by an individual implies:<br>A)the use
Q114: The basic purpose of economic models is