Positive neoclassical economists are different from positive behavioral economists in that positive behavioral economists place more value on having models accurately represent people's true happiness.
Answer the following statement true (T) or false (F)
False
Rationale: Positive economists of all stripes -- neoclassical or behavioral -- judge models by their power to predict, not by their "accuracy" in terms of assumptions.
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Regarding the price elasticities of demand, which of the following statements is true?
A. Price elasticities vary considerably from product to product. B. Luxurious goods are generally less price elastic. C. Necessities are generally more price elastic. D. All of these statements are true.
Which concept compares the share of total wealth in society that is received by different groups?
a. Income inequality b. Poverty line c. Poverty rate d. Financial distribution
Use the following table to answer the next question.YearReal GDPPopulation2008$20,000200200940,000400201060,000400201170,000500Real GDP per capita ________ between 2009 and 2010.
A. decreases B. remains constant C. increases D. cannot be calculated
Some pet owners are using an "invisible fence" to keep their animals from straying. Every time the animal steps over the edge of the property, it gets a mild shock. A social scientist would call the shock
A) a price signal. B) a reward. C) a disincentive. D) a normative incentive.