According to the Zuckerberg, Seacrest, and Swift illustration:
A. Zuckerberg, Seacrest, and Swift did not weigh marginal benefits against marginal costs when making decisions.
B. Attending college has little effect on lifetime earnings.
C. Zuckerberg, Seacrest, and Swift made a mistake by not attending college.
D. Opportunity costs vary greatly between individuals and matter in decision making.
Answer: D
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If the monetary multiplier is 6, then the reserve requirement must be
A. 0.6. B. 0.167. C. 1.67. D. 0.06.
If autonomous spending decreases, then
A) the expenditure multiplier means that equilibrium expenditure increases by a larger amount. B) the expenditure multiplier means that equilibrium expenditure increases by a smaller amount. C) equilibrium expenditure does not change. D) the expenditure multiplier means that equilibrium expenditure decreases by a larger amount. E) equilibrium expenditure decreases by the same amount.
During the last two or three decades, the educational and career choices of women have become
a. more like those of men, and the earnings of women have declined relative to those of men. b. more like those of men, and the earnings of women have increased relative to those of men. c. less like those of men, and the earnings of women have increased relative to those of men. d. less like those of men, and the earnings of women have declined relative to those of men.
Assume a market that has an equilibrium price of $4. If the market price is set at $8, which of the following is true?
A. Some surplus is transferred from consumers to producers, but total surplus falls. B. All surplus is transferred from consumers to producers, and total surplus stays the same. C. Some surplus is transferred from producers to consumers, but total surplus falls. D. Some surplus is transferred from consumers to producers, causing total surplus to increase.