When an economist evaluates a positive statement, he or she is primarily
a. examining evidence.
b. acting as a scientist.
c. concerned with verifying how the world is.
d. All of the above are correct.
d
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The reversal of fortune can be primarily attributed to:
A) the religious practices in a nation. B) the type of institutions in a nation. C) geography of a nations. D) the type of culture in a nation.
When a nation exports a good, its consumer surplus ________, and its producer surplus ________
A) increases; increases B) decreases; decreases C) increases; decreases D) decreases; increases E) does not change; increases
Refer to Table 17-2. The marginal revenue product of labor from the third unit of labor is
A) $5,460. B) $1,560. C) $1,260. D) $780.
If you took a course on the economics of growth, what elements would you expect to be missing that you would need to discuss economic development?
What will be an ideal response?