Even if economic theory is based on positive analysis, economists may still disagree with each other because
a. economists tend to have excessive self-interest
b. they ignore politics
c. they are opinionated
d. they may have different values, like everyone else
e. they try to be right all the time
D
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Which of the following statements is true?
A) Empirical arguments can be supported without the use of data. B) Using a large data set will strengthen the force of an empirical argument C) Using fewer observations will strengthen the force of an empirical argument. D) The number of observations used does not affect the strength of an empirical argument.
According to the text, the net public debt to Gross Domestic Product (GDP) ratio is currently about
A) 10%. B) 25%. C) 60%. D) 120%.
Which of the following will cause the demand curve for a good to shift to the right?
A. Decrease in income for a normal good. B. Increase in the price of a complementary good. C. Decrease in the price of the good. D. Increase in the price of a substitute good.
Strategic currency stabilization:
A. involves frequent exchange rate intervention. B. is successful only if the government does not attempt to affect market expectations. C. can be successful only if governments possess large amounts of official reserves. D. involves carefully-timed exchange rate intervention.