By Convention, There Are Two Major Divisions of Economics, Called

question 59

Multiple Choice

By convention, there are two major divisions of economics, called:

• A)marginal benefit and marginal cost.
• B)reservation price and opportunity cost.
• C)microeconomics and macroeconomics.
• D)rational economics and irrational economics.

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Definitions:

Subjective Feelings

Personal experiences of emotions and sensations that cannot be objectively measured.

Dependent Variable

In an experiment, it is the variable being tested and measured, which is expected to change under different conditions.

Skin Conductance

A measure of the electrical conductance of the skin, which varies with its moisture level and is used as an indicator of emotional or psychological arousal.

Subjective Feelings

Subjective feelings refer to the personal, internal experiences of emotions that may not be observable by others.