Which of the following nations DOES use the euro and participate in the Treaty on European Union?
A) Sweden
B) Portugal
C) The United Kingdom
D) Norway
B
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Economics is a social science in the sense that it
a. rigorously examines human behavior. b. is not as scientific as physics. c. relies on historical data instead of mathematical data. d. relies on statistics instead of mathematics. e. All of the above are correct.
A circular-flow diagram is a model that
a. helps to explain how participants in the economy interact with one another. b. helps to explain how the economy is organized. c. incorporates all aspects of the real economy. d. Both (a) and (b) are correct.
Nontoll roads can be either public goods or common resources, depending upon the degree of congestion
a. True b. False Indicate whether the statement is true or false
A CPA recently has come to expect higher prices for expert tax advice in the near future. We would expect
a. the CPA to supply more expert tax advice now than she was supplying previously. b. the CPA to supply less expert tax advice now than she was supplying previously. c. the demand for this CPA's expert tax advice to fall. d. no change in the CPA's current supply; instead, future supply will be affected.