Which of the following statements is not correct?
A. Economic analysis can be used to explain how both individuals and societies make decisions.
B. In large measure, economics is the study of how people make choices.
C. If poverty were eliminated, there would be no reason to study economics.
D. Economics is a behavioral science.
Answer: C
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An art museum decides to offer tours by having visitors listen to cassette tapes rather than have tour guides. The museum is answering the ________ part of one of the two big economic questions
A) "scarcity" B) "what" C) "why" D) "how"
Give examples of factors that decrease aggregate demand. Which way does the aggregate demand curve shift?
What will be an ideal response?
Most macroeconomists believe that both fiscal and monetary policy can shift aggregate demand and that such interventions can be counterproductive
a. True b. False Indicate whether the statement is true or false
A variety of fuels can be used to generate electricity. Considering only the availability of the fuel and not the cost of converting it into electricity, which of the following fuels is most scarce?
a. wind power b. solar energy c. fossil fuel d. hydro-power