The Cost-Benefit Principle: A.provides an abstract model of how people should choose between alternatives. B.provides little insight into how people actually chose between alternatives. C.fully captures how people choose between alternatives. D.describes how people behave once th … 阅读详情>> "The Cost-Benefit Principle:"

Economists believe the Cost-Benefit Principle is: A.a simple but useful model of how people should make choices. B.of little use to those who wish to learn how to make better decisions. C.a comprehensive description all the factors that influence people’s choices. D.an interestin … 阅读详情>> "Economists believe the Cost-Benefit Principle is:"

The cost-benefit model used by economists is: A.useful because most people follow it most of the time. B.useful because everyone follows it all of the time. C.unrealistic because it is too detailed and specific to apply to most situations. D.unrealistic because everyone can think … 阅读详情>> "The cost-benefit model used by economists is:"

Economists use abstract models because: A.they are useful for describing general patterns of behavior. B.computers have allowed economists to develop abstract models. C.every economic situation is essentially the same, so specific details are unnecessary. D.every economic situati … 阅读详情>> "Economists use abstract models because:"

The fact that most people make some decisions based on intuition rather than calculation is: A.consistent with the cost-benefit model because calculating costs and benefits is irrational. B.inconsistent with the cost-benefit model, but still rational. C.consistent with the cost-b … 阅读详情>> "The fact that most people make some decisions based on intuition rather than calculation is:"

Moe has a big exam tomorrow. He considered studying this evening, but decided to hang out with Curly instead. If neither activity involves any explicit costs, and Moe always chooses rationally, it must be true that: A.Moe gets more benefit from spending time with Curly than from … 阅读详情>> "Moe has a big exam tomorrow. He considered studying this evening, but decided to hang out with Curly instead. If neither activity involves any explicit costs, and Moe always chooses rationally, it must be true that:"

If one fails to account for implicit costs in decision making, then applying the cost-benefit rule will be flawed because: A.the costs will be understated. B.the benefits will be overstated. C.the benefits will be understated. D.the costs will be overstated. 正确答案：the costs will b … 阅读详情>> "If one fails to account for implicit costs in decision making, then applying the cost-benefit rule will be flawed because:"

Pat earns $25,000 per year (after taxes), and Pat’s spouse, Chris, earns $35,000 (after taxes). They have two pre-school-aged children. Childcare for their children costs $12,000 per year. Given that Chris doesn’t want to stay home with the kids, regardless of what Pat does, Pat … 阅读详情>> "Pat earns $25,000 per year (after taxes), and Pat’s spouse, Chris, earns $35,000 (after taxes). They have two pre-school-aged children. Childcare for their children costs $12,000 per year. Given that Chris doesn’t want to stay home with the kids, regardle"

The marginal benefit of an activity is the: A.total benefit of an activity divided by the level of the activity. B.same as the total benefit of an activity. C.total benefit associated with an extra unit of the activity. D.extra benefit associated with an extra unit of the activit … 阅读详情>> "The marginal benefit of an activity is the:"

Suppose the marginal cost of the 1st hour of talking on the phone is $50, the marginal cost of the 2nd hour is $75, and the marginal cost of the 3rd hour is $105. In this case, the total cost of talking on the phone for 3 hours is: A.$315 B.$150 C.$230 D.$105 正确答案：$230

Suppose the total benefit of watching 1 baseball game is 100, the total benefit of watching 2 games is 120, and the total benefit of watching 3 games is 125. In this case, the marginal benefit of watching the 3rd game is: A.125 B.41.67 C.375 D.5 正确答案：5

The extra benefit that results from carrying out one additional unit of an activity is the __ of the activity. A.average benefit B.marginal benefit C.economic benefit D.total benefit 正确答案：marginal benefit