Regarding How Students Approach College Life, Which of the Following

question 124

Multiple Choice

Regarding how students approach college life, which of the following statements is FALSE?

• A)College life creates a conflict between new opportunities for fun with friends and the need to study hard.
• B)A student high in the Big Five traits of extraversion and agreeableness will tend to embrace the carefree college lifestyle.
• C)A student high in conscientiousness will find it easier to study hard.
• D)Personality traits are so stable that if a person is a carefree party animal or a bookwork, these patterns cannot be changed.

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Definitions:

Inferior Good

A type of good for which demand decreases as the income of consumers increases, inversely related to normal goods.

Long-Run Equilibrium

A state in which all factors of production and costs are variable, and economic forces are balanced, leading to no net inclination to change.

Constant-Cost Industry

An industry in which the costs of production (including input prices) remain constant regardless of changes in the industry's output level.

Long-Run Equilibrium

A situation in which, after all adjustments have been made, all firms in a perfectly competitive market earn zero economic profit and no firm has an incentive to change its output.