The decision of which assumptions to make is
a. an easy decision for an economist, but a difficult decision for a physicist or a chemist.
b. not a particularly important decision for an economist.
c. usually regarded as an art in scientific thinking.
d. usually regarded as the easiest part of the scientific method.
c
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Marginal factor cost (MFC) is the same as the wage rate for a monopsonist
a. True b. False Indicate whether the statement is true or false
The international trade response to a contractionary monetary policy will cause aggregate demand to shift ____ and aggregate supply to shift ____
a. outward, outward b. inward, outward c. outward, inward d. inward, inward
If the punishment associated with breaking a ban is not severe enough, it may:
A. still decrease the consumption of the good if the price of the good changes. B. still be effective if it gains media attention. C. not alter the trade-offs enough to change the consumption patterns of the banned good. D. cause even more consumption of the good, exaggerating the problem.
A network linking six users is typically:
A. less than three times as valuable as a network linking two users. B. three times as valuable as a network linking two users. C. less likely to exhibit bottlenecks than a network linking two users. D. more than three times as valuable as a network linking two users.