ECONOMICS D089 - Module 1 CI Practice (WGU) WINTER 2024

D089 - Module 1 CI Practice D089 Course Instructors have created this resource to help develop your knowledge of the concepts in Module 1. We recommend reading the material in your Acrobatiq text and watching the videos before working on the questions. Please note that these questions do not come from the actual assessment. Course Instructors are not privy to information on the assessment. If you have any questions, please feel free to reach out to us at . Points: 11/13 Correct 1/1 Points 1.In 2018 Ford Motor Company announced that it would be eliminating the production of several sedan models to focus on production of trucks. This is an example of which of the fundamental economic questions?Single choice. What to produce? How to produce? For whom to produce? Where to produce? Correct answers: What to produce? Incorrect 0/1 Points 2.Principle 3 states that "Rational people think at the margin." Which of the following is an example of marginal thinking?Single choice. Dan decides to spend $1,000 to repair his old car because over the years he's spent many thousands of dollars maintaining the car. Dan decides to spend $1,000 to repair his old car because he estimates that by spending this extra money he can get an extra year of use from the car. Dan decides to spend $1,000 to repair his old car because an equivalent new car costs $24,000. Dan decides to spend $1,000 to repair his old car because he needs to get to work.