Costisnottoogreat b m arginalcost ofattendingcollege

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Unformatted text preview:     1 P art I:Multiple  ­ ChoiceQuestions( 4 0pointstotal)   1. Astatementthatargues“inordertogetpeopletoconsumelessofgasoline,government shouldincreasetaxesongasoline”isanexampleofwhatkindofstatement? a. aconservativestatement b. amacroeconomicstatement c. a normativestatement  d. apositivestatement Answer:C 2. Thedecisiontodropoutofcollegemaybearationaloneforacollegestudentifthe a. costisnottoogreat. b. m arginalcost  ofattendingcollege  exceedsthemarginalbenefit.  c. marginalbenefitofattendingcollegeexceedsthemarginalcost. d. opportunitycostofattendingcollegeequalszero. Answer:B  Figure 1: For questions 3-4 3. The production possibilities curve represents: a. The maximum amount of labor and capital available for production b. The combinations of goods and services among whi...
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  • Spring '14
  • Inflation, Tasty Cereal Company, of0200attending0200college 0200 exceeds0200the0200marginal0200benefit, indeterminate 0200 and0200depends0200on0200the0200magnitudes0200of0200these0200demand0200, 0200normative0200statement 0200

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