Because It Is Difficult for Economists to Use Experiments to Generate

question 191

Multiple Choice

Because it is difficult for economists to use experiments to generate data, what must they generally do?

• A) do without data
• B) use whatever data the world gives them
• C) select a committee of economists to make up data for all economists to use
• D) use hypothetical, computer-generated data

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Definitions:

Marginal Utility

The additional satisfaction or utility a consumer receives from consuming one additional unit of a good or service.

Rutabagas

A root vegetable with a taste that is a mixture of cabbage and turnip, commonly used in cooking.

Broccoli

A green vegetable with a large flowering head, stalk, and small associated leaves, often eaten for its nutritional qualities.

Marginal Utility per Dollar

The additional satisfaction or utility gained from consuming one more unit of a good or service, divided by its cost.