AACSB: Analytic Blooms: Apply Difficulty: 3 Hard Learning Objective: 01-04 Explain and apply the Incentive Principle; which says that if you want to predict people's behavior; a good place to start is by examining their incentives. Topic: Economic Naturalism 151. Pat can either to work, which takes half an hour and uses $1.50 worth of gas, or take the bus, which takes an hour and costs $1.00. How should Pat get to work? Applying the cost-benefit principle as an economic naturalist, Pat should take the action for which the net benefit is greatest. AACSB: Analytic Blooms: Apply Difficulty: 3 Hard Learning Objective: 01-04 Explain and apply the Incentive Principle; which says that if you want to predict people's behavior; a good place to start is by examining their incentives. Topic: Economic Naturalism
AACSB: Analytic Blooms: Apply Difficulty: 3 Hard Learning Objective: 01-04 Explain and apply the Incentive Principle; which says that if you want to predict people's behavior; a good place to start is by examining their incentives. Topic: Economic Naturalism 151. Pat can either to work, which takes half an hour and uses $1.50 worth of gas, or take the bus, which takes an hour and costs $1.00. How should Pat get to work? Applying the cost-benefit principle as an economic naturalist, Pat should take the action for which the net benefit is greatest. AACSB: Analytic Blooms: Apply Difficulty: 3 Hard Learning Objective: 01-04 Explain and apply the Incentive Principle; which says that if you want to predict people's behavior; a good place to start is by examining their incentives. Topic: Economic Naturalism
Test-Bank-for-Principles-of-Macroeconomics-5th-Edition-by-Frank.docx