Question

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.

Answer 1

Answer:

d. All of the above are correct.

Explanation:

Economists are scientists who study the processes of production, distribution, accumulation and consumption of material goods. They also look for factors directly related to restraint or moderation in spending, and factors related to savings. Economists study the notion of how societies use resources to produce valuable goods and how these goods are distributed among individuals.

Based on this, we can say that economists would study whether the US unemployment rate has fallen by two percentage points in recent years, but we can also say that they would study the following situations:

• Mitch chooses to work overtime to earn extra income for his family.
• Megan sells her physics textbook last semester to her roommate for half the price of a new textbook.