The economic model of consumer behavior explains how consumers' tastes and preferences are formed

Indicate whether the statement is true or false

FALSE

Economics

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The ratio of debt to GDP is much higher in the United States than in most other industrialized nations

Indicate whether the statement is true or false

Economics

A singer would willingly perform in a concert for $10,000. If she is paid $25,000 for the concert, she is

A) receiving $25,000 to cover her opportunity cost. B) not being paid her full opportunity cost. C) receiving $15,000 of economic rent. D) certainly being paid more than warranted by the level of demand.

Economics