Which of the Following Is Part of the Economic Way

question 195

Multiple Choice

Which of the following is part of the economic way of thinking?

• A) The accuracy of the assumptions is the best test of an economic theory.
• B) When an option becomes more expensive, people will be less likely to choose it.
• C) The value of a good can be determined objectively by measuring the amount of labor required for its production.
• D) All of the above.

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Definitions:

Amygdala

A region of the brain within the temporal lobe, involved in the processing of emotions such as fear, anger, and pleasure.

Moral Development

The process through which individuals learn to distinguish right from wrong and to develop the right attitudes and behaviors towards societal rules.

Elaboration

A memory strategy in which one imagines a scene or story to link the material to be remembered.

Organization

Memory strategy in which items to remember are categorized or grouped by theme or type.