The Use of Economic Models, Like the Cost-Benefit Principle, Means

question 130

Multiple Choice

The use of economic models, like the cost-benefit principle, means economists believe that:

• A) this is exactly how people choose between alternatives.
• B) this is a reasonable abstraction of how people choose between alternatives.
• C) those who explicitly make decisions this way are smarter.
• D) with enough education, all people will start to explicitly make decisions this way.

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Definitions:

Rapidly

Very quickly or in a short time period.

Weigh Yourself

The act of measuring one's body mass using a scale, typically as part of health or fitness monitoring.

Low-Carbohydrate

A diet emphasizing reduced intake of carbohydrates to encourage weight loss or manage certain health conditions.

High-Fat Diet

A diet that consists significantly of foods high in fats, often linked to increased risk of various health issues such as heart disease and obesity.