ECO 204 QUIZ 1
, Question 1
pts
An inference from economic theory that can be subjected to real-world
testing is known as a(n) .
fundamental hypothesis
endogenous assumption
experimental assumption
testable hypothesis
Question 2
pts
Kalean goes to the University of Missouri. The opportunity cost of her
education includes all but which of the following?
the cost of food and clothing
income she could have earned instead of going to college
recreation time she is giving up in order to study
the cost of tuition and textbooks
The answer can be found in Chapter 1, Section 1.2, Scarcity: Limited
Resources but Unlimited Wants.
Question 3
pts
Why is the self-interest assumption useful to economists?
It is a model that economists practice themselves.
This study source was downloaded by 100000817936687 from CourseHero.com on 02 -22-2022 12:05:53 GMT -06:00
https://www.coursehero.com/file/42536295/ECO204docx/
, Question 1
pts
An inference from economic theory that can be subjected to real-world
testing is known as a(n) .
fundamental hypothesis
endogenous assumption
experimental assumption
testable hypothesis
Question 2
pts
Kalean goes to the University of Missouri. The opportunity cost of her
education includes all but which of the following?
the cost of food and clothing
income she could have earned instead of going to college
recreation time she is giving up in order to study
the cost of tuition and textbooks
The answer can be found in Chapter 1, Section 1.2, Scarcity: Limited
Resources but Unlimited Wants.
Question 3
pts
Why is the self-interest assumption useful to economists?
It is a model that economists practice themselves.
This study source was downloaded by 100000817936687 from CourseHero.com on 02 -22-2022 12:05:53 GMT -06:00
https://www.coursehero.com/file/42536295/ECO204docx/
