What are two arguments against using the economic method?
a. It is not a fair and diverse approach.
b. It is not possible to prove that people behave rationally.
c. People do not and should not take only economic factors into their decision making.
d. It is too complicated and theoretical.
c. People do not and should not take only economic factors into their decision making.
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The two basic types of government regulation are
A) regulation of natural monopolies and regulation of cartels. B) economic regulation and industry regulation. C) social regulation and labor law. D) social regulation and economic regulation.
A change in the price level will cause a shift in the expenditure schedule
a. True b. False Indicate whether the statement is true or false
Exhibit 11-4 Taxable Income Taxes $0 - $23,000 15% of taxable income $23,001 - $42,000 $3,450 + 20% of everything over $23,000 $42,001 - $100,000 $7,250 + 25% of everything over $42,000 Greater than $100,000 $21,750 + 30% of everything over $100,000 Refer to Exhibit 11-4. If a person's taxable income is $20,000, how much does he pay in taxes?
A) $600 B) $30,000 C) $18,000 D) $3,000
Look at the figure at right. A union wishes to maximize wage income for employed union? members, so it should aim for a wage rate? ________ and a number of employed members equal to
A. W3, Q3
B. W1, Q3
C. W3, Q1
D. W2, Q2