Which of the following is not one of the four principles of individual decision making?
a. People face trade-offs.
b. Trade can make everyone better off.
c. People respond to incentives.
d. Rational people think at the margin.
b
You might also like to view...
Land suitable for growing corn is usually suitable for growing soybeans. From the farmer's perspective, an increase in the price of corn will therefore tend to
A) decrease the demand for soybeans. B) increase the demand for soybeans. C) increase the supply (curve) of corn. D) raise the cost of growing soybeans. E) reduce the cost of growing soybeans.
Which of the following is a fixed cost of driving a car?
a. gasoline b. maintenance c. tires d. license plates e. motor oil
Economic aggregates are not observable in the "real world."
a. True b. False Indicate whether the statement is true or false
Refer to the scenario above. What is the net present value of the investment?
A) -$7,112.36 B) -$5,365.10 C) -$475.31 D) $9,524.19