The Study of How the Allocation of Resources Affects Economic

question 7

Multiple Choice

The study of how the allocation of resources affects economic well-being is called

• A)consumer economics.
• B)macroeconomics.
• C)willingness-to-pay economics.
• D)welfare economics.

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Definitions:

Exposure Therapy

A psychological treatment that involves confronting fears directly by gradual and repeated exposure to the feared object, situation, or activity.

Agoraphobia

A set of phobias, often set off by a panic attack, involving the basic fear of being away from a safe place or person.

Cognitive-behavior Therapy

A psychotherapeutic approach that addresses dysfunctional emotions, behaviors, and cognitions through a goal-oriented, systematic process.

Panic Disorder

An anxiety disorder in which a person experiences recurring panic attacks, periods of intense fear, and feelings of impending doom or death, accompanied by physiological symptoms such as rapid heart rate and dizziness.