Which of the following is not listed in the book as a reason to study economics?

A. to be an informed citizen
B. to understand society
C. to learn a way of thinking
D. to learn how to make lots of money

Answer: D

Economics

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Basket of goods A is on an indifference curve that lies closer to the origin than basket B. From this we know that

A) the prices of the goods in A are less than the prices of the goods in B. B) the satisfaction from consuming A is more than the satisfaction from consuming B. C) the marginal utility from consuming A is less than the marginal utility from consuming B. D) the satisfaction from consuming A is less than the satisfaction from consuming B.

Economics

The approach economists use to analyze competition among oligopolists is called

A) marginal analysis. B) game theory. C) oligopoly theory. D) competition among the few.

Economics