The cost of going to college is ______. (Points: 1) tuition and the cost ofhousi

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The cost of going to college is ______. (Points: 1)
       tuition and the cost ofhousing
       tuition, the cost ofhousing, and the cost of books
       tuition, the cost ofhousing, the cost of books, and forgone income
       forgone incomeonly


2. After eating three slices of pizza, youdecide to squeeze in one more piece. Your decision is an example ofthe economic principle called ______. (Points: 1)
       opportunity-costdecision
       people respond toincentives
       equity decision
       marginaldecision


3. The best measure of the opportunity costof any choice is ______. (Points: 1)
       the monetary cost ofthat choice
       whatever you have givenup to make that choice, even if no monetary costs areinvolved
       the cost associated withnot taking full advantage of the opportunity offered by thatchoice
       none of theabove


4. Which of the following is an example ofmarginal analysis? (Points: 1)
       What additional outputdoes a family business produce when it hires one moreworker?
       How do tax cuts changethe growth rate of median income?
       When a large corporationlays off workers, how do profits change if sales remainconstant?
       A commuter takes the busto work rather than driving.


5. Economists tend to believe that to changepeople's behavior ______. (Points: 1)
       you must appeal to theirconcern for society
       you must change theirincentives
       you must legislate thechange
       none of the above can bedone to change people's behavior

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