3.) Which of the following is NOT part of the opportunity cost of attending TCNJ? a.) Tuition b.) Room and board c.) Cost of textbooks d.) Foregone wages 4.) Which of the following statements is TRUE? a.) Economists seek to apply the scientific method to social science questions. b.) Models can provide useful insights even though they are simplifications of reality. c.) The validity of an economic assumption depends on context. d.) All of the above
3.) Which of the following is NOT part of the opportunity cost of attending TCNJ? a.) Tuition b.) Room and board c.) Cost of textbooks d.) Foregone wages 4.) Which of the following statements is TRUE? a.) Economists seek to apply the scientific method to social science questions. b.) Models can provide useful insights even though they are simplifications of reality. c.) The validity of an economic assumption depends on context. d.) All of the above
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter2: Choice In A World Of Scarcity
Section: Chapter Questions
Problem 23CTQ: Do economists have any particular expertise at making normative arguments? In other words, they have...
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