Author Question: Do economists analyze people's thought processes or do they look at what people actually do? A) ... (Read 92 times)

V@ndy87 · **on:** Jun 29, 2018

Do economists analyze people's thought processes or do they look at what people actually do?

A) Economists focus only on people's thought processes.
B) Economists focus on what people do, not their thought processes.
C) An economist's focus is about half-and-half between actions and thought processes.
D) Macroeconomists focus on thought processes while microeconomists focus on actions.

Question 2

Opportunity cost

A) can only be measured as a paid cost.
B) is always the value of the next best forgone opportunity.
C) does not exist since there are no receipts.
D) is always the lowest valued alternative.