Which of the following is an example of using the scientific method with a natural experiment?
a. measuring how long it takes a marble to fall from a ten story building
b. comparing plant growth with and without a soil additive
c. tracking the price of oil when a war in the Middle East interrupts the flow of crude oil
d. observing the reaction when two chemicals are mixed together
c
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In the above figure, what is the quantity of workers that would be hired by a monopsonist?
A) Q1 B) Q2 C) Q3 D) Q4
Jennifer learns that the price of CDs will be going up 10 percent next week. She usually buys three CDs per week. What happens to Jennifer's demand for CDs this week?
a. It does not change because only quantity demanded changes when price changes. b. It increases because the price will be lower next week. c. It decreases because the price will be higher next week. d. It increases because the price will be higher next week. e. It decreases because the price will be lower next week.
Paul and Diane are two fishing fanatics who also supply local restaurants with fresh brook salmon. Paul uses a $20 rod and reel and catches 20 fish in one day. Diane places a $100 net all the way across the stream and at the end of the day she has caught 5,000 fish. Diane's ingenuity is an example of
a. constant returns to scale in fish production b. increasing marginal cost c. the difference between short- and long-run costs d. the existence of economies of scale in fishing technology e. unfair trade practices
Recent studies show that recent immigrants compete for jobs with immigrants who came into the country earlier.
Answer the following statement true (T) or false (F)