The amount of exercise that one gets is an important factor in the determination of his general state of health. This is best described as O an example of marginalism. O a positive statement. O a normative statement. O an example of the fallacy of composition.
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- Oescribe Hhe stroturgy 450 words. blue ocean in appioximately.The following graph shows the budget constraint for a household who has to choose between consumption goods and health care services. Please explain tho difference between the two lines. Budget constraint Corsumer goods X Y(H) = pX + qM Y(H) = pX + qM Haalth care services M Y-Incone H=health ppeice of consunmer goods 9*peice of healh care servicesExplain why individuals make Choices that are directly on the budget constraint, rather than inside the budget constraint DI outside it.
- What assumptions about the economy must he true for the invisible hand to work? To what extent are those assumptions valid in line real world?Would a research study on the effects of soft drink consumption on childrens cognitive development he a positive or normative statement?What are four responses to the claim that people should not behave in the way described in this chapter?
- 8. What does delimitation mean? b 26 boto0ol Josria A. To set everything free C. To extend the limit of the boundary B. To remove the boundary D. To establish the limit or boundary E o1t 21e0nun 10 MOITADITIM 223 AT 9. Which of the following statements do not correctly define the scope of the study? A. It explains what information or subject is being analysed in the study. WOTTAN SUAO ATMAS B. It tells about the sample size, time the study was conducted and the geographical area. C. It tells the specific coverage in terms of concept, number of subjects as well as the timeline. me dong incW 0080 D. It tells the general information on how the data are being interpreted to conclude the study. 10. What is the difference between objective or purpose of the study and research questions or investigative problems? A. Objective or purpose of the study talks about variable while research topic or investigative problems deal with the scope of the study, B. Objective or purpose of the study is a…Figure 2-16 caps of coffee per day Avans with at sery Refer to Figure 2-16. Taking cause and effect into account, which of the following interpretations would be most reasonable regarding the relationship between coffee and hours without sleep? O The less coffee a person drinks per day, the more time he can go without sleep. There is no relationship between how much coffee per day a person drinks and how long he can go without sleep. The more coffee a person drinks per day, the more time he can go without sleep. O The more coffee a person drinks per day, the less time he can go without sleep.EXERCISE 1Below is a production possibilities table for consumer goods (Food) and capital goods(Robots):A B C D EFood 0 1 2 3 4Robots 10 9 7 4 01. Show these data graphically. Upon what specific assumptions is this productionpossibilities curve based?2. If the economy is at point C, what is the cost of one more food? Of one morerobot? Explain how the production possibilities curve reflects the law ofincreasing opportunity costs.3. If the economy characterized by this production possibilities table and curvewere producing 3 food and 2 robots, what could you conclude about its use ofavailable resources?4. What would production at a point outside the production possibilities curveindicate? What must occur before the economy can attain such a level ofproduction?EXERCISE 2Explain how (if at all) each of the following affects the location of a country’s productionpossibilities curve:1. The quality of education increases.2. The number of unemployed workers increases.3. A new technique…
- D E B 04 What does point D on this graph represent? O An optimal choice O A choice on the budget constraint O An impossible choice given the income O A choice that would result in income left overWhich of the following is one of the four economic principles of individual decision making? O Rational people make decisions based on average costs and benefits. O Rational people respond to incentives in predictable ways. The cost of something is the amount of money you pay to get it. O Both b and care correct. O a, b, and c are all correct.Mike has a decreasing marginal uity of income We know that Mike's income in greater than S10, but we de not know his exact inome Adam offers Mika the folloeing bet Adam wil throw a fair coin (that is, heads and tals have equal probatilty) a heada. Mke pays Adam $10. ta Adam pays Mke S10 What can we conclude from this infonmation? O Mike will reject the bet only it his income is high emought Ob. Mike will reject the bet, independently of how high his income is Oc Mke wil accept the bet independently of how high his income is Od Mke will accept the bet only if his income is high enought O Mka will always be indiferent between accepting and rejecting the bet
