If Jessie Studies Economics for Two Hours Instead of Going

question 208

Multiple Choice

If Jessie studies economics for two hours instead of going to the movies with her friends,then

• A)Jessie is not responding to any incentives.
• B)Jessie is definitely making a rational choice.
• C)Jessie is ignoring a sunk cost.
• D)the benefit of studying is the missed movie.
• E)the opportunity cost of studying is the missed movie.

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Definitions:

Metropolitan Areas

Include downtown city cores and their surrounding suburbs.

Demographic Transition Theory

A theory that describes the transition from high birth and death rates to lower birth and death rates as a country or region develops from a pre-industrial to an industrialized economic system.

Industrialization

The process of developing industries in a country or region on a wide scale.

Fertility Rate

The mean number of offspring a woman has during her life in a certain demographic group.