If Jessie Studies Economics for Two Hours Instead of Going

question 38

Multiple Choice

If Jessie studies economics for two hours instead of going to the movies with her friends,then

• A) the benefit of studying is the missed movie.
• B) the opportunity cost of studying is the missed movie.
• C) Jesse definitely is making a rational choice.
• D) Jessie is ignoring a sunk cost.
• E) Jessie is not responding to any incentives.

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Definitions:

State

Refers to a politically organized body of people under a single government, or a specific condition or mode of being.

Region

A geographic area defined by natural, political, or cultural characteristics.

National Economic Condition

The overall health and performance of a country's economy, measured by factors like GDP, employment rates, and inflation.

Lease Payments

Regular payments made by a lessee to a lessor for the use of leased property, equipment, or vehicles, as agreed upon in a lease contract.