Economists may disagree about how to solve an economic problem because they
A. may not be able to use the same models.
B. always make the same value judgments.
C. are unable to assemble all of the necessary facts about the economy.
D. All of these responses are correct.
Answer: C
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Other things remaining the same, if the U.S. interest rate differential increases, the demand curve for U.S. dollars shifts ________ and the supply curve of U.S. dollars shifts ________
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward
Leontief showed that U.S. exports were capital intensive relative to U.S. imports
Indicate whether the statement is true or false
Show how a monopolist maximizes its profit. Explain your graph.
What will be an ideal response?
For any given tax, the revenue generated is:
A. larger in markets with price-elastic demand and supply. B. the same regardless of price elasticity. C. always maximized in markets with price-elastic demand and supply. D. smaller in markets with price-elastic demand and supply.