A. not applicable to economics because economics deals with human beings. B. also known as the economic perspective. C. analysis that moves from broad generalizations called laws to theories and then to hypotheses. D. used by economists and other
social scientists, as well as by physical scientists and life scientists, to formulate and test hypotheses.
A. not applicable to economics because economics deals with human beings.
B. also known as the economic perspective.
C. analysis that moves from broad generalizations called laws to theories and then to
hypotheses.
D. used by economists and other social scientists, as well as by physical scientists and life
scientists, to formulate and test hypotheses.
Answer: B
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A) self-interest. B) answering the "how" question. C) answering the "for whom" question. D) the social interest. E) incentives.
Explain why both rich and poor people experience scarcity
What will be an ideal response?
What are specific assets?
If India decides to enact environmental laws to reduce air pollution, what would be the effect on GDP?
A) GDP would decrease if the pollution controls reduce productivity by more than the cost of the controls. B) GDP would increase as the environmental costs of pollution were not included in the calculation of GDP. C) GDP would increase as the citizens of India were made happier as the air pollution was reduced. D) GDP would increase reflecting the fact that the air would be cleaner.