Which of the following statements is true?
A) Economics is concerned with money, not choices.
B) Economics can be used to predict people's actions.
C) Economics does not provide insights into human behavior.
D) Economic reasoning tends to reduce the quality of decision making.
B
Economics
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Marginal cost is best defined as
A) the extra cost of producing one more unit of output. B) the profit earned from selling one more unit of output. C) the price received from selling one more unit of output. D) equal to producer surplus.
Economics
One problem with traditional health insurance plans is _____
a. people have little choice over physicians b. it has eliminated employer-provided health care c. doctors have little incentive to economize d. patients spent too much time scrutinizing their bills
Economics