D Question 27 Exhibit 1-9 . A C B D Education Consumption Refer to Exhibit 1-9. The attainment of Point A in the future O is more likely to occur if the economy chooses more education. O can occur, but why it can is not understood. O is impossible. O is more likely to occur if the economy initially moves to Point B to conserve resources. O is more likely to occur if the economy chooses more consumption.D Question 28 To say that a change in taste causes prices to rise is to claim that O transfer prices are a more accurate gauge of economic activity than market paces. O prices are a signal. O the economy has full information. O prices would not change if people did not know the exact reason for the price change. O price changes cannot be predicted.Economic models O are different from the phenomena they attempt to explain. O are new phenomena because they are by-products of experimental economics. O are not complicated because the behavior they describe is not complicated. O are complicated because human behavior is complicated. O would not be needed if controlled experiments were used more often. D Question 30 Market failure O caused the collapse of centrally planned economies in Eastern Europe. O is the consequence of government involvement in the economy. is something that never happens in a market economy. O occurs when the market is unable to allocate resources correctly. O occurs only when supply exceeds demand