Just Before Class, Jim Tells Stuart, "Stuart, You Shouldn't Skip

question 70

Multiple Choice

Just before class, Jim tells Stuart, "Stuart, you shouldn't skip class today because you have paid tuition to enroll in the class." Stuart ignores Jim's advice, and instead makes the decision of whether to attend based on what he feels he'd be missing that day in class relative to his value of the extra time he could have to finish the video game he is playing. To an economist, Stuart is

• A) using marginal decision making.
• B) ignoring the total value of attending class.
• C) ignoring the concept of opportunity cost.
• D) committing the fallacy of composition.

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Definitions:

Psychoanalytic Therapy

A therapeutic approach that emphasizes the role of unconscious processes in affecting conscious thoughts and behaviors, based on Freudian theory.

Systematic Desensitization

A behavioral therapy technique used to reduce phobic or anxiety responses through gradual exposure to the feared object or situation combined with relaxation exercises.

Xanax

A prescription medication used to treat anxiety and panic disorders, known generically as alprazolam.

Prozac

A brand name for Fluoxetine, a type of antidepressant medication belonging to the selective serotonin reuptake inhibitor (SSRI) class, used to treat depression and other mental health conditions.