People who use drive-through windows at restaurants and eat while on the road tend to

People who use drive-through windows at restaurants and eat while on the road tend to
 a. have a low opportunity cost of time
  b. have a high opportunity cost of time
  c. not maximize their utility
  d. act irrationally
  e. value their money more than their time

QUESTION 2

Which of the following must be true of an attorney who buys a portable computer so that she can work on trains and planes?
 a. She is engaging in conspicuous consumption.
  b. She gets utility from working.
  c. She thinks the opportunity cost of her time is higher than it really is.
  d. She thinks the opportunity cost of her time is lower than it really is.
  e. She is trying to reduce the opportunity cost of traveling.

QUESTION 3

Suppose you want to get to Orlando, Florida, for the week-long spring break. You can get there in two and one-half days by bus, and back in another two and one-half days. This will cost you 20 round-trip. You can fly there and back in four hours each way. This will cost 200 . Which of the following is not true?
 a. It may be economically rational for you to go by plane rather than by bus.
  b. Depending on what else you can do that week, it may be economically rational for you to not go at all rather than to go by bus.
  c. The true cost of going to Orlando is either the time or the money you spend traveling, whichever it is you value more.
  d. The more you'd enjoy Orlando, the more economically rational it becomes for you to fly there instead of taking the bus.
  e. It is possible that it is rational for you to fly and rational for others to take the bus.

QUESTION 4

Which of the following statements is true?
 a. The money price is usually the same as the time price for most consumers.
  b. The money price of a good is always greater than the time price.
  c. The money price is always greater for high-wage earners than for low-wage earners.
  d. The time price is usually less for low-wage earners than for high-wage earners.
  e. The time price of a good is directly proportional to the money price.

QUESTION 5

One reason why a consumer might buy from a high-priced local hardware store instead of going to a big discount store several miles away in another community is that
 a. the local store will still have lower money prices
  b. the time cost of going to the local store is equal to going to the discount store
  c. comparing the sum of money prices and time cost, the local hardware store is a bargain for people who value time highly
  d. comparing the sum of money prices and time cost, the local hardware store is a bargain for people who earn low hourly wages
  e. the time cost of going to the discount store is less than going to the local hardware store

QUESTION 6

Which of the following people is least likely to clip store coupons?
 a. a retired person
  b. an unemployed person
  c. a low-income worker
  d. a high-priced consultant
  e. a graduate student on summer break