What is an efficient way to study for an economics exam?
A) Attend every lecture and take copious notes.
B) Read the assigned material once before each class and once after.
C) Form study sessions with others in class.
D) Put off everything and instead cram the night before the exam.
E) Any of the above might be efficient, depending on one's perceived costs and benefits.
E
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The above figure shows the U.S. market for chocolate. With international trade, consumer surplus is equal to
A) area A + area B + area C + area D. B) area A. C) area B + area C + area D. D) area C + area D. E) area E.
Does Mr. McConaughey's marginal utility from spending time with family and friends and from breaking a sweat obey the principle of diminishing marginal utility?
A) No, neither obeys the principle of diminishing marginal utility. B) Only breaking a sweat obeys the principle of diminishing marginal utility. C) Yes, they both obey the principle of diminishing marginal utility. D) Only spending time with friends and family obeys the principle of diminishing marginal utility.
The larger the marginal rate of substitution, the larger is the amount of one good that the consumer is willing to give up in exchange for another good and still remain at the same level of satisfaction
Indicate whether the statement is true or false
In a true cluster sample, the individuals are first drawn from the clusters.?
Answer the following statement true (T) or false (F)