{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

quiz 1sp 2011 - Quiz 1 Multiple Choice Identify the letter...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Quiz 1 Multiple Choice Identify the letter of the choice that best completes the statement or answers the question. ____ 1. After much consideration, you have made a rational decision to attend your best friend's party instead of your Econ class this Friday. For this decision to change , which of the following must occur (assume that you are rational)? a. The marginal benefit of partying must increase. b. The marginal cost of partying must decrease. c. The marginal benefit of attending class must increase. d. The marginal cost of attending class must increase. ____ 2. In the former Soviet Union, central planners in the government set output targets and prices for producers. This type of economy would be called a ____ 3. Economists make assumptions a. because they are too afraid to explain the real world. b. to make sure that every single variable is included in the model.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern