According to chapter 1 in your textbook,
A) all economists approach questions with some preconceptions or prejudices.
B) economists (and others) ought to approach all questions with a completely open mind, though they often do not.
C) economists approach questions with more of an open mind than do most other social scientists.
D) most economists approach questions with a completely open mind.
E) most economists derive their conclusions from their political preferences.
A
You might also like to view...
The relationship between personal and corporate income taxes rates is significant because _____
a. high-income taxpayers can choose between realizing income as personal or corporate b. low-income taxpayers purchase the majority of goods produced by corporations c. middle-income taxpayers equalize their income between corporate and personal income taxes d. there is no relationship
Answer the following statements true (T) or false (F)
1. National income accountants eliminate double counting of intermediate goods by using only the value of final goods. 2. Current disposable income can be adjusted for price changes and population changes to yield real per capita disposable income. 3. A transfer payment is a payment of money in return for which no current goods or services are produced. 4. The value of leisure is not taken into consideration in GDP accounting. 5. When final sales are less than GDP, a net reduction in inventory has taken place.
What are private goods? Mention two important attributes of private goods.
What will be an ideal response?
"An Inquiry into the Nature and Causes of the Wealth of Nations" published in 1776 was written by
A) John Maynard Keynes. B) Karl Marx. C) Alfred Marshall. D) Adam Smith.