ANSWER:
d
112. According to the interdependence principle, when faced with a decision, you should ask what
a.
else might my decision affect?
b.
else might affect my decision?
c.
else might my decision affect and what else might affect my decision?
d.
past decisions might my decision affect?
ANSWER:
c
113. The order in which you should apply the four core principles of economics is:
a.
the cost-benefit principle, the opportunity cost principle, the marginal principle, the interdependence principle.
b.
the interdependence principle, the opportunity cost principle, the cost-benefit principle, the interdependence principle.
c.
the opportunity cost principle, the marginal principle, the cost-benefit principle, the interdependence principle.
d.
the marginal principle, the cost-benefit principle, the opportunity cost principle, the interdependence principle.
ANSWER:
d
114. Asking "One more?" allows the _____ principle to be analyzed as a simple question.
a.
cost-benefit
b.
opportunity cost
c.
marginal
d.
interdependence
ANSWER:
c
115. Asking "Benefit beat cost?" allows the _____ principle to be boiled down to a simple question.
a.
cost-benefit
b.
opportunity cost
c.
marginal
d.
interdependence
ANSWER:
a
116. Asking "Or what?" allows the _____ principle to be analyzed as a simple question.
a.
cost-benefit
b.
opportunity cost
c.
marginal
d.
interdependence
ANSWER:
b
117. Asking "What else?" allows the _____ principle to be boiled down to a simple question.
a.
cost-benefit
b.
opportunity cost
c.
marginal
d.
interdependence
ANSWER:
d
118. Consider the decision to read your economics textbook. Which of the four core principles of economics applies to the notion that reading this textbook will help you to establish a solid foundation of understanding economics, which will be beneficial for future courses?
a.
Cost-benefit principle
b.
Opportunity cost principle
c.
Marginal principle
d.
Interdependence principle
ANSWER:
d
119. Consider the decision to read your economics textbook regularly. Which of the four core principles of economics applies to the notion that reading this textbook will require time and effort but that doing so will improve your grade in this course?
a.
Cost-benefit principle
b.
Opportunity cost principle
c.
Marginal principle
d.
Interdependence principle
ANSWER:
a
120. Consider the decision to read your economics textbook. Which of the four core principles of economics applies to the notion that instead of reading this textbook you could be studying for your upcoming exam in a different course?
a.
Cost-benefit principle
b.
Opportunity cost principle
c.
Marginal principle
d.
Interdependence principle
ANSWER:
b
121. Consider the decision to read your textbook on economics regularly. Which of the four core principles of economics applies to the notion that each extra page you read and each extra problem you complete will help you increase your understanding of the material?
a.
Cost-benefit principle
b.
Opportunity cost principle