Microeconomics
2nd Edition
ISBN: 9780073375854
Author: B. Douglas Bernheim, Michael Whinston
Publisher: MCGRAW-HILL HIGHER EDUCATION
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Question
Chapter 1, Problem 5DQ
To determine
Classify the statement as a model or not a model.
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Which of the following makes economics an art?
a.
Practical use
b.
Value judgment
c.
Objectivity of statements
d.
Capability of measurement
Which is positive statement and explain.
6. Jump for joy
7. The show keeper showed the animal
8. All day
9. I played basketball today
10. I also enjoy playing baseball
Task 4: Copy the following sentences on your activity notebook.
Write YES if the underlined words in each sentence is a phrase and No if it
is not. Write your answer on the space provided each numnber.
1. He was waiting for the rain to stop.
2. She was upset when it didn't boil.
3. You have been sleeping for a long time.
4. You might enjoy a massage.
5. He was eager to eat dinner.
6. Ivory is diligent in her studies.
7. Elvis always asks me a food.
8. They want me to go with them.
9. Maxene is a nice pet.
10. Are you done?
Were you able to answer the items correctly? What is the difference between
the clause and the phrase?
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Similar questions
- Match each term with the correct definition. economics opportunity costmarginal analysis utilitya. The next-best thing that must be forgone in order to produce one more unit of a given product.b. The pleasure, happiness, or satisfaction obtained from consuming a good or service.c. The social science concerned with how individuals, institutions, and society make optimal (best) choices under conditions of scarcity.d. Making choices based on comparing marginal benefits with marginal costs.arrow_forwardWhich 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.arrow_forwardA rational decision-maker takes an action only if the Select one: a. marginal benefit is less than the marginal cost b. average benefit is greater than the average cost C. marginal benefit is greater than both the average cost and the marginal cost d. marginal benefit is greater than the marginal costarrow_forward
- "Clothes make the man.” a. What do clothes and grooming tell about a person? b. Can a person judge by his appearance?arrow_forwardExplain the concepts appraisal well and production well in brief ?arrow_forwardWhich is an example of complementary goods? A. laptops and shampoo B. margarine and butter C. Coca-Cola and Pepsi D. printers and ink cartridgesarrow_forward
- What affects the desirability of a product? Products become more desirable when A. professional athletes use a product because consumers who use the same product may feel closer to famous people. B. celebrities use a product because consumers who use the same product may feel more fashionable. C. movie stars use a product because consumers perceive them to be particularly knowledgeable about it. D. both a and b. E. all of the above.arrow_forwardHow would you decide "how many pizza slices to eat a buffet? Which two laws to consider? A. compare the demand and supply for pizza B. compare the marginal benefit of the next slice and the price of the slice C. compare the marginal benefit of the next slice and the marginal cost of the next slice. D. eat as many as you want to eat and not full yet.arrow_forwardPlease put detail explanation to each step so that it can help understanding! thank youarrow_forward
- Which of the following are systematic errors? a. A colorblind person who repeatedly runs red lights. b. An accountant whose occasional math errors are sometimes on the high side and sometimes on the low side. c. The tendency many people have to see faces in clouds. d. Miranda paying good money for a nice-looking apple that turns out to be rotten inside. e. Elvis always wanting to save more but then spending his whole paycheck, month after month.arrow_forwardBased on our subject Contemporary Issue. Explain the picture. a. What do you see in the picture? b. What does this indicate? c. Why is this happening?arrow_forward1. What makes a certain behavior unethical? * a.If it might cause harm to yourself. b.If it might cause too much happiness to others. c.If it might cause confusion to others. 2. A normative study of ethics, as is often done in philosophy or moral theology, engages the question: What could or should be considered as the right way of acting? Identify a good example that could illustrate what normative study of ethics is a .Ethics is based on the primitive practices of humans. b. Ethics is based on existing doctrines and tells us what is the prescribe human behaviors. c. Ethics is based on religious practices 3. What makes rule necessary for peace and order? * a.Rule forces people to comply with societal standards. b.Rule organizes moral development of the members of society. c. Rules guide people to do what they want and need to do. 4. Which of the following is a moral issue? a. A student finds naked painting offensive. b. A student confuse about his/her career. c. A student…arrow_forward
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