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ECO 204 QUIZ 1 | GRADED A+ $6.00   Add to cart

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ECO 204 QUIZ 1 | GRADED A+

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ECO 204 QUIZ 1An inference from economic theory that can be subjected to real-world testing is known as a(n) . fundamental hypothesis endogenous assumption experimental assumption testable hypothesis Kalean goes to the University of Missouri. The opportunity cost of her education inclu...

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  • February 22, 2022
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  • 2021/2022
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ECO 204 QUIZ 1

, Question 1
pts
An inference from economic theory that can be subjected to real-world
testing is known as a(n) .

fundamental hypothesis


endogenous assumption


experimental assumption



testable hypothesis


Question 2
pts
Kalean goes to the University of Missouri. The opportunity cost of her
education includes all but which of the following?

the cost of food and clothing


income she could have earned instead of going to college



recreation time she is giving up in order to study


the cost of tuition and textbooks

The answer can be found in Chapter 1, Section 1.2, Scarcity: Limited
Resources but Unlimited Wants.

Question 3
pts
Why is the self-interest assumption useful to economists?

It is a model that economists practice themselves.




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