If We Lived in a Galaxy One Billion Light-Years from Our

question 20

Multiple Choice

If we lived in a galaxy one billion light-years from our own, what would we see?

• A) a universe 1 billion years younger than ours
• B) a universe 1 billion years older than ours
• C) much the same universe we see here
• D) the universe is expanding at a slower rate than we see from Earth
• E) the universe is expanding at a faster rate than we see from Earth

Understand how changes in preferences and income affect consumer utility.

Analyze and calculate the effects of price changes on the budget line and consumer choices.

Interpret graphical representations of budget constraints, indifference curves, and shifts in these curves.

Identify the economic rationale behind consumer's choice of consumption bundles.

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Definitions:

Studying

The act of applying one's mind purposefully to the acquisition of knowledge or understanding of a subject.

Entity Theorists

Those who believe that traits are fixed, stable things (entities) and thus people should not be expected to change.

Incremental Theorists

Those who believe that traits are subject to change and improvement.

Learned Helplessness

Belief that one’s actions will not bring about desired outcomes, leading one to give up and quit trying.