A way to look at population is by density. Which of the following states is the least densely populated?
a. Rhode Island
b. New York
c. Alaska
d. New Jersey
C
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Active changes in tax and spending by government intended to smooth out the business cycle are called ________, and changes in taxes and spending that occur passively over the business cycle are called ________
A) discretionary fiscal policy; automatic stabilizers B) automatic stabilizers; monetary policy C) discretionary fiscal policy; conscious fiscal policy D) automatic stabilizers; discretionary fiscal policy
What is the economic way of thinking, and why is it important?
What will be an ideal response?
Average fixed costs diminish continuously as output increases.
Answer the following statement true (T) or false (F)
Ceteris paribus means
A) "all variables are independent." B) "other things being constant." C) "some assumptions are unrealistic." D) "some theories are not rational."