A study that deals with the salaries of university professors would be considered（）
A. macroeconomics
B. economic naturalism
C. real economics
D. microeconomics
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The field of economics that would be most concerned with a recent fall in interest rates is（）
A. macroeconomics
B. microeconomics
C. economic naturalism
D. marginal economics
If one fails to account for implicit costs in decision making, then applying the cost-benefit rule will be flawed because（）
A. the costs will be understated
B. the benefits will be overstated
C. the benefits will be understated
D. the costs will be overstated
The Scarcity Principle applies to（）
A. consumers primarily
B. firms primarily
C. poor people primarily
D. everyone
Economists use abstract models because（）
A. they are useful for describing general patterns of behavior
B. computers have allowed economists to develop abstract models
C. every economic situation is essentially the same, so specific details are unnecessary
D. every economic situation is unique, so it is impossible to make generalizations
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