256) (Consider This) COVID-19 moved the Canadian economy:
A) Inside its PPF
B) Outside its PPF
C) Onto its PPF
D) None of these answers
257) (Consider This) Which of the following statements is correct for the Canadian economy, given the impact of COVID-19
A) There are fewer goods for the present, but also for the future.
B) There are more goods in the present, and also in the future.
C) There are fewer goods in the present, but more in the future.
D) There are more goods in the present, but fewer in the future.
258) At what point should you stop studying for an exam?
A) At the point where the marginal cost of studying = the marginal benefit of studying.
B) You should always study the maximum of hours for an exam!
C) You should study until the marginal cost of studying is equal to 0.
D) You should study until the marginal benefit of studying is equal to 0.
259) (The Last Word) How many Starbucks branches should the company open in Montreal?
A) MB should be equal MC for the very last store that it builds in a Montreal.
B) MB should be greater than MC for the very last store that it builds in a Montreal.
C) MB should be smaller than MC for the very last store that it builds in a Montreal.
D) MC should be equal to zero for the very last store that it builds in a Montreal.
260) What is a brief definition of economics? What are the conditions that give rise to this definition?
261) What are the key economic concepts that pertain to the individual?
262) What are the key economic concepts that pertain to interactions among individuals?
263) What are the key economic concepts that pertain to the economy as a whole?
264) What do economists mean when they say that "there is no free lunch"? Give another example to which this statement applies.
265) What are the three interrelated features of the economic perspective?
266) What is utility and what is its relevance to rational behaviour?
267) Use marginal analysis to explain why it is possible to "have too much of a good thing". Use education as an example.