Which of the following statements is false?
a. Economists look at the factors that lead an individual to decide that a particular idea is in his or her best interest.
b. Economists do not ask whether a particular decision is in the individual's best interest.
c. Choices must be made because of scarcity.
d. A particular choice is made by an individual because that choice provides the greatest satisfaction.
e. None of these statements is false, they are all true.
e
You might also like to view...
Exhibit 12-7 Negative income tax
As shown in Exhibit 12-7, a family of four pays income taxes at:
A. an income of $5,000. B. any income between zero and $40,000. C. all levels of income. D. any income above $40,000.
Refer to the information provided in Figure 13.9 below to answer the question(s) that follow. 
Figure 13.9 Refer to Figure 13.9. If Ohio Edison is forced to act as a perfect competitor (instead of the monopoly level), ________ is BEC.
A. the welfare loss B. the net social gain C. consumer surplus D. producer surplus
The level of detail in an economic model
a. is as close as possible to the level of detail in reality b. depends on the purpose of the model c. is as complex as possible d. is the same regardless of the purpose of the model e. is as complex as possible to accomplish its purpose
Figure 7-4
Following a rash of airplane bombs, the airlines have been forced to increase security at a cost of $30 million per year. The number of inspectors and machines does not vary with the number of passengers-the airlines must have sufficient staff available to handle the full-capacity load. Which graph in Figure 7-4 best illustrates the impact of the security expenditures?
a. 1
b. 2
c. 3
d. 4