All of the following are part of an economic model except
A) data.
B) opinions.
C) assumptions.
D) hypotheses.
B
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Apple and Samsung agree to stop undercutting each other's phone prices. Which of the following antitrust acts are being violated?
A. Clayton Act B. Sherman Act C. Federal Trade Commission Act D. No Antitrust law is being violated
When the Fed sells government securities
A) reserves decrease, leading to a decrease in the money supply by an amount more than the sale of the government securities. B) reserves increase, leading to a increase in the money supply by an amount more than the sale of the government securities. C) reserves increase, leading to a decrease in the money supply by an amount more than the sale of the government securities. D) reserves decrease, leading to a increase in the money supply by an amount more than the sale of the government securities.
In a certain city, the government is considering acquiring some land and turning it into a park (without any fences or gates). In an attempt to determine the extent to which residents of the city would value the park, residents are asked to fill out a questionnaire. Which of the following is correct?
a. On the questionnaire, some residents are likely to exaggerate the value they associate with the park. b. On the questionnaire, some residents are likely to exaggerate the costs they associate with the park. c. The use of such a questionnaire in cost-benefit analysis is likely to produce only rough approximations of residents' perceptions of the costs and benefits of a park. d. All of the above are correct.
With respect to the market clearing price and the equilibrium quantity for good X, an increase in the demand for and a decrease in supply of the good definitely will
A) increase the market clearing price and the equilibrium quantity of good X. B) decrease the market clearing price and the equilibrium quantity of good X. C) increase the market clearing price of good X but lower the equilibrium quantity of X. D) increase the market clearing price of good X but have an uncertain impact on the equilibrium quantity of X.