Sherrie owns a pickup truck and also owns a parrot. Therefore, we can conclude that there is a causal relationship between owning the pickup truck and the parrot for Sherrie.
Answer the following statement true (T) or false (F)
False
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All else equal, the price elasticity of demand for a good tends to be lower:
A. in the long run. B. if the good has many close substitutes. C. if the good represents a large share of a consumer's budget. D. if the good has few close substitutes.
The statement "A tax cut would be the fairest way to stimulate the economy" is an example of positive economic analysis
a. True b. False Indicate whether the statement is true or false
The basic problem with the government setting an absolute poverty line is that it is
a. completely objective. b. somewhat arbitrary. c. unconstitutional. d. based on average income.
If two countries participate in free trade:
A) every individual in each country will benefit. B) both countries as a whole may gain from the trade. C) one country will benefit, but the other country will experience reduced welfare.. D) neither country will benefit.