ECO 204

An inference from economic theory that can be subjected to real-world testing is known as a(n) __________. fundamental hypothesis endogenous assumption experimental assumption Correct! testable hypothesis Question 2 0 / 1 pts Kalean goes to the University of Missouri. The opportunity cost of her education includes all but which of the following? the cost of food and clothing income she could have earned instead of going to college You Answered recreation time she is giving up in order to study the cost of tuition and textbooks The answer can be found in Chapter 1, Section 1.2, Scarcity: Limited Resources but Unlimited Wants. Question 3 1 / 1 pts Why is the self-interest assumption useful to economists? It is a model that economists practice themselves.