Modern statistical methods have created a new branch of economics called
a. microeconomics
b. macroeconomics
c. econometrics
d. abstract economics
e. positive economics
C
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The ratio of the dollar price of a toy in the U.S. to the dollar price of a toy in China represents the ________ between the two currencies
A) nominal exchange rate B) ordinal exchange rate C) expected exchange rate D) real exchange rate
All else equal, if individuals save less because inflation lowers returns on savings, this should ________ the supply of loanable funds and ________ the capital stock
A) increase; raise B) increase; reduce C) decrease; raise D) decrease; reduce
Assume health insurance is provided universally by the government. This would
A) force every taxpayer to bear the costs of adverse selection. B) force every taxpayer to bear the costs of moral hazard. C) force the government to deal with adverse selection problems. D) force foreign governments to deal with moral hazard problems.
If a tariff is imposed on imported televisions, we expect domestic demand for televisions to:
A) fall, and the total supply to increase. B) rise, and the total supply to decrease. C) rise, and the total supply to rise. D) remain unchanged, and the total supply to decrease.