A study of the impact of various government policies on economic growth would be considered:
A. marginal economics.
B. microeconomics.
C. government economics.
D. macroeconomics.
Answer: D
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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 these responses are correct.
The statutory incidence of the tax means who:
A. is legally obligated to pay the tax to the government. B. actually loses surplus as a result of the tax. C. bears the burden of any sort of tax. D. gains surplus as a result of the government redistributing tax revenue.
Most economists feel that overly strict financial regulation from 2000 to 2006 contributed to the financial crisis of 2007-2009
a. True b. False Indicate whether the statement is true or false
Which statement is true?
A. There are many firms in a monopolistically competitive industry. B. Monopolistic competitors produce an identical product. C. In order for product differentiation to take place, there must be clear physical differences among the products sold. D. None of these statements are true.