Principles of Macroeconomics, Student Value Edition (12th Edition)
12th Edition
ISBN: 9780134079530
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Chapter 1, Problem 3.5P
To determine
Drawback of statements.
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Students have asked these similar questions
According to standard economic theory which is true?
a.
Choices people make, including the choice to eat French fries or smoke, should be respected as long as these choices do not affect others.
b.
Taxes on sugary sodas force consumers to make decisions that are privately confusing.
c.
Public intervention is always justified as long as the prevalence of the problem is large
d.
Obesity is a public problem, not a private problem, because it is associated with reduced life expectancy.
Which of the following best demonstrates the influence of economic factors on consumer decision-making?
a.
A consumer buys a Lexus after her neighbors and garden club pals each buy one.
b.
A married couple with three young children purchase a minivan.
c.
A blue collar worker holds off on buying a new truck, pending potential layoffs at work.
d.
A young professional buys a utility vehicle for off-road exploring.
a) Trade-offs are important part of economic decision making. You are supposed to Analyze and explain any three trade-offs that you face in your life.
b) You plan to study on weekend and your friends ask you to go to a farm house with them. What do you think is the true cost of spending your weekend on a farmhouse with friends?
c) You plan to spend your weekend working at your father’s superstore for a wage, but your friends ask you go play cricket at the weekend. What do you think is the true cost of spending your weekend playing cricket with friends?
Chapter 1 Solutions
Principles of Macroeconomics, Student Value Edition (12th Edition)
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