The early 1980s "Star Wars" space-based defensive weapons system was an example of _____
a. economic warfare
b. a military alliance
c. negative externality
d. undefined property rights
a
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The incorrect presumption that because two events tend to occur together, one must cause the other is the:
A) confusion of economists. B) blunder of science. C) fallacy of false cause. D) error of inclusion.
The difference in price between hardback books and paperbacks is primarily explained by differences in production costs.
Answer the following statement true (T) or false (F)
A perfectly elastic demand curve
A) shows that a slight change in income will lead to a large reduction in price. B) is a vertical line drawn across from the quantity axis. C) shows that a slight increase in price will reduce quantity demanded to zero. D) has a slope of -1.
From 1995 to 2008, the growth rate of capital per unit of labor was high, which caused
A. labor productivity growth to be much higher than total factor productivity growth. B. high inflation rates. C. wages to grow faster than before. D. labor productivity growth to be much smaller than total factor productivity growth.