Students of Microeconomic Principles Often Say They Are Going to Study

question 330

Multiple Choice

Students of microeconomic principles often say they are going to study "tonight," because the only way to pass the exam is to study some every night. When "tonight" comes, some students choose to do something else. Come exam day, these students do not do well on their exam. This observation is an example of how people

• A)are inconsistent over time.
• B)are consistent over time.
• C)are mainly interested in fairness.
• D)are rational.

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Definitions:

Civil Liberties

Fundamental rights and freedoms protected by law from government interference, including freedom of speech, the right to privacy, and the right to fair treatment under the law.

Revenue Act of 1916

A United States federal law designed to increase income tax rates and impose estate taxes to fund military preparedness before entering World War I.

Munitions Manufacturers

Companies or entities engaged in the production of materials, devices, and equipment intended for use in warfare, including weapons and ammunition.

Corporate Profits

The earnings obtained by corporations after all expenses and taxes have been paid, indicating the financial success and health of a company.