In conducting their research, economists often substitute historical events and historical episodes for
a. theories and observations.
b. laboratory experiments.
c. models.
d. assumptions.
b
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The table below shows the relationship between the number of times you get your car washed each month and your total monthly benefit from car washes. Each car wash costs $15.Number ofCar WashesPer MonthTotal MonthlyBenefit fromCar Washes0$01$202$363$484$565$60What's the average benefit of 4 car washes per month?
A. $12 B. $4 C. $14 D. $8
The United States was unable to maintain its dominance in the production of televisions because:
A. automated techniques allowed production to be outsourced to countries with less-skilled workers. B. the raw materials necessary to build televisions became scarce in the United States. C. the product designs evolved too rapidly for engineers in the United States to keep up. D. the highly technical skills necessary to produce televisions are greater in other countries.
A characteristic of a market economy is:
a. central economic planning by the government b. use of traditional farming methods c. consumer goods often not available d. little government interference in the economy
How is the public debt calculated?
A. By subtracting the government's total liabilities from its total assets B. By cumulating the annual government purchases over time C. By subtracting current government spending from current government tax revenues D. By cumulating the annual difference between tax revenues and government spending over the years