Economics 1st edition acemoglu test bank 1

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Microeconomics (Acemoglu/Laibson/List) Full download at: Solution Manual: https://testbankpack.com/p/solution-manual-for-microeconomics-1st-editionacemoglu-list-laibson-0321391578-9780321391575/ Test bank: https://testbankpack.com/p/test-bank-for-microeconomics-1st-edition-acemoglu-listlaibson-0321391578-9780321391575/

Chapter 3 Optimization: Doing the Best You Can 3.1 Two Kinds of Optimization: A Matter of Focus 1) Making choices by selecting the best feasible option, given the available information is referred to as: A) delegation. B) imposition. C) actualization. D) optimization. Answer: D Difficulty: Easy Topic: Two Kinds of Optimization: A Matter of Focus 2) Which of the following statements is true? A) It is easier for a person to optimize when he has less information. B) Optimization implies choosing the best option from a set of alternatives. C) People always successfully optimize given the limited information they have. D) Optimization is an easy process, and all economic agents are perfect optimizers. Answer: B Difficulty: Easy Topic: Two Kinds of Optimization: A Matter of Focus 3) Optimization can be achieved using either of two techniques of cost benefit analysis. Which of the following correctly identifies the techniques? A) Optimization in levels and optimization in programs B) Optimization in levels and optimization in differences C) Optimization in programs and optimization in frames D) Optimization in differences and optimization in frames Answer: B Difficulty: Easy Topic: Two Kinds of Optimization: A Matter of Focus 1 Copyright © 2015 Pearson Education, Inc.


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Economics 1st edition acemoglu test bank 1 by kathryn.rosenbaum820 - Issuu