Which of the following is a Nobel Prize winning economist who argued that theories should be tested based on the validity of their predictions?

The opportunity cost of taking a semester-long economics class is

A) the cost of tuition and fees only. B) equal to the highest value of an alternative use of the time and money spent on the class. C) the value of the time spent in the classroom. D) the knowledge and enjoyment you receive from attending the class. E) zero because there is no admission charged if you are enrolled in the course.

Empirical evidence suggests that, when unemployment benefits run out, the probability that an unemployed person will find a job

A) remains constant. B) goes down by 20 percent. C) about doubles. D) about triples.