An economist studies photos of many college football games and estimates that 75 percent of all fans stand and 25 percent sit.
A. empiricism, because it describes behavior using? real-world data.
B. empiricism, because it illustrates people optimizing using? cost-benefit analysis.
C. optimization, because it predicts how? people's behavior will change.
D. empiricism, because it evaluates whether people maximize their? well-being
A. empiricism, because it describes behavior using? real-world data.
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In 1990, which Latin American countries saw inflation climb above 2,000%?
a. Colombia and Venezuela b. Mexico and Guatemala c. Brazil and Argentina d. Uruguay and Paraguay
The institution charged with creating and regulating the U.S. money supply is the
a. U.S. Treasury b. Federal Reserve System c. Department of Commerce d. Department of Weights and Measures e. U.S. Mint
The components of the formula for the Taylor rule includes each of the following, except:
A. the current inflation rate. B. the inflation gap. C. the 30-year U.S. Treasury bond rate. D. the target federal funds rate.
Seth is trying to decide how many workers is the optimal amount at his factory, which produces artisan-crafted grooming products. He observes the following: When there is one worker, 10 hairbrushes are produced daily. When there are two workers, 16 hairbrushes are produced daily. When there are three workers, 20 hairbrushes are produced daily.
What is the marginal product of the third worker?