Difficulty hard topic simple application blooms

Difficulty: Hard
Topic: Simple Application

Bloom’s: Comprehension
AACSB: Reflective Thinking
85. Predicting the movement of the stock market on the basis of observed, historical correlations
between sunspots and the stock market is to take the risk of predicting on the basis of a logically
flawed procedure.
Difficulty: Medium
Topic: Simple Application
Bloom’s: Application
AACSB: Reflective Thinking
86. The scientific method is not applicable to the study of economics because economics is not a true
science.
Difficulty: Medium
Topic: Definition
Bloom’s: Knowledge
AACSB: Reflective Thinking
87. If people act as if they maximize profits even though profits are not exactly what they have in
mind as they decide what to do, then assuming that they do indeed try to maximize profits can
support a sound economic analysis.
Difficulty: Hard
Topic: Simple Application
Bloom’s: Application
AACSB: Reflective Thinking
88. College students that do well in economics courses always do better in business, get into the law
school of their choice, and otherwise have superior lives compared to students who either fail to
take economics or fail economics.
Difficulty: Medium
Topic: Simple Application
Bloom’s: Application
AACSB: Analytic
89. Economists are now relying less on controlled experiments to explain economic behavior than in
the past.
Difficulty: Easy
Topic: Experience
Bloom’s: Knowledge
AACSB: Reflective Thinking
90. Economic analysis plays an integral role in helping us to better understand our society.
Difficulty: Easy
Topic: Experience
Bloom’s: Comprehension

AACSB: Reflective Thinking
91. Leisure is an example of a free good.
Difficulty: Easy
Topic: Definition
Bloom ’s: Knowledge
AACSB: Reflective Thinking
92. What, how, and for whom are central questions for any economic system.