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Homework answers / question archive / Which of the following is an example of something economists study? a) Mitch chooses to work overtime to earn extra income for his family, b) Megan sells her physics textbook from last semester to her roommate for half the price of a new textbook, c) The unemployment rate in the United States has fallen by two percentage points in the last few years, d) All of the above are correct
Which of the following is an example of something economists study?
a) Mitch chooses to work overtime to earn extra income for his family,
b) Megan sells her physics textbook from last semester to her roommate for half the price of a new textbook,
c) The unemployment rate in the United States has fallen by two percentage points in the last few years,
d) All of the above are correct.
The correct answer is D.
All the listed answers are correct because economists generally study the methods through which individuals or organizations utilize scarce resources in the generation of products and services. The economists examine the costs and advantages of administering and consuming the products and services. In regards to the first listed option, it shows that Mitch is looking for a way of increasing her income. This could be of interest to economists because it offers a technique of growing revenue. For the second option, an economist would study because it focuses on savings and utilizing the available resources. Lastly, an economist would look into the last alternative because it focuses on unemployment, which is a factor that determines the growth or decline of an economy.
