Which of the Following Is Consistent with the Implications of the Economic

question 146

Multiple Choice

Which of the following is consistent with the implications of the economic guidepost that information is costly to acquire?

• A) Most people do not know the names of their legislators in the U.S. Congress, but those same individuals are likely to know the names of all the cast members on a popular TV show.
• B) In considering purchases, people are more likely to purchase a consumer ratings magazine that reviews new automobiles before buying a car, but are unlikely to purchase a consumer ratings magazine that reviews pens and pencils before buying a pen or pencil.
• C) When shopping for something like a new calculator, people will generally not spend the time to do price comparisons at all of the stores in town that sell calculators.
• D) All of the above are consistent with the economic way of thinking.

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Definitions:

Schizophrenia

A long-term mental disorder characterized by disruptions in thought processes, perceptions, emotional responsiveness, and social interactions.

Percentage

A mathematical concept that represents a fraction of 100 as a figure of merit or loss in comparison.

Psychotherapy

A form of treatment involving psychological techniques, designed to improve mental health and resolve or mitigate troublesome behaviors, beliefs, feelings, and somatic responses.

Schizophrenia

A chronic and severe mental disorder that affects a person's thoughts, feelings, and behavior, leading to a range of psychological symptoms, including delusions and hallucinations.