Economics is a social science in the sense that it
A. rigorously examines human behavior.
B. is not as scientific as physics.
C. relies on historical data instead of mathematical data.
D. relies on statistics instead of mathematics.
E. All of these responses are correct.
Answer: A
You might also like to view...
If the government spends exactly what it receives in taxes during a given interval, then the result is
A) a balanced budget. B) the gross public debt. C) the net public debt. D) a government budget deficit.
Most markets involve the use of money for transactions because:
a. goods and services can be exchanged more easily with money than without it. b. goods and services cannot be exchanged without money. c. using money requires a double coincidence of wants. d. the transaction costs of using money are very high. e. the value of money remains same across countries over time.
A Japanese businessman opened an automobile showroom in Singapore this year. His income will lead to a(n) ________
A) increase in the GDP of Singapore B) decrease in the GDP of Singapore C) increase in the GDP of Japan D) decrease in the GDP of Japan
Based on the data in the table above, after which worker is hired do diminishing marginal returns begin?
A) the first B) the fifth C) the sixth D) the ninth