Economic analysis assumes that

What will be an ideal response?


changes in the personal benefits and costs associated with a choice will exert a predictable influence on human behavior.

Economics

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Economics

Suppose y = Ak1/4, the capital-labor ratio is $40,000 per worker, the level of total factor productivity is 800, 70% of the population works, and there are 70 million workers. Real GDP per capita is

A) $3,500.00. B) $5,543.72. C) $7919.60. D) $9,899.50.

Economics

Why do most people specialize in their work?

What will be an ideal response?

Economics

Graphically, market demand for a product:

A. is the horizontal difference of the individual demand curves. B. is the horizontal sum of the individual demand curves. C. is the vertical difference of the individual demand curves. D. is the vertical sum of the individual demand curves.

Economics