When Most Economists Wake Up in the Morning,their First Decision

question 72

Multiple Choice

When most economists wake up in the morning,their first decision is whether or not to hit the snooze bar on the alarm clock.What statement best represents their thought process as a rational decision-maker?

• A) I had a really late night grading exams, and I deserve 10 more minutes of sleep.
• B) The total amount of work I have to do today is rather small, so the total benefit to going to work for a full 8 hours is also small.
• C) The total amount of work I have to do today is rather small, so the marginal cost of going to work 10 minutes late is small.
• D) The total amount of work I have to do today is rather small, so the marginal benefit of sleeping 10 more minutes is rather large.
• E) The marginal benefit of sleeping 10 more minutes is greater than the marginal benefit of 10 more minutes of work.

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Definitions:

Fetus Development

The stage of human development in the womb from the ninth week after fertilization until birth, involving significant growth and differentiation of tissues and organs.

Germ Layer

In early embryonic development, one of the three primary layers (ectoderm, mesoderm, and endoderm) that give rise to all tissues and organs of an organism.

Dermis

The layer of skin beneath the epidermis that contains nerve endings, sweat glands, and hair follicles.

Ectoderm

The outermost of the three primary layers of an embryo that develops into the nervous system, skin, and related structures.