The "economic perspective" refers to:
A) macroeconomic phenomena, but not microeconomic phenomena.
B) microeconomic phenomena, but not macroeconomic phenomena.
C) the making of rational decisions in a context of marginal costs and marginal benefits.
D) unlimited resources in a context of limited material wants.
Correct Answer:
Verified
Q27: In constructing models, economists
A) make simplifying assumptions.
B)
Q43: Purposeful behaviour suggests that:
A)everyone will make identical
Q44: Consumers might leave a fast-food restaurant without
Q45: Even though local newspapers are very inexpensive,
Q47: Marginal costs exist because:
A)the decision to produce
Q49: Economics involves "marginal analysis" because:
A)most decisions involve
Q50: From the perspective of economists, which term
Q51: Suppose an economist says that "Other things
Q52: A "hypothesis" is:
A)a fundamental truth which all
Q53: Economic models:
A)are of limited use because they
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