ExamName___________________________________MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 5 pts each1) By definition, economics is the study of A) how to make money in the stock market.B)supply and demand.C)the choices people make to attain their goals, given their scarce resources.D)how to make money in a market economy.
2)Economists assume that rational people do all of the following except2)
3)Soo Jin shares a one-bedroom apartment with her classmate. Her share of the rent is $700 per3) month. She is considering moving to a studio apartment which she will not have to share with anyone. The studio apartment rents for $950 per month. Recently, you ran into Soo Jin on campus and she tells you that she has moved into the studio apartment. Soo Jin is as rational as any other person. As an economics major, you rightly conclude that