The Bretton Woods conference led to the creation of the International Monetary Fund (IMF).
Answer the following statement true (T) or false (F)
True
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Economists estimate that an increase in tax rates by 8% will ________ work by ________.
A. increase; 1% B. decrease; 15% C. increase; 15% D. decrease; 1%
Positive economics does not require us to believe that actual happiness is the same as utility as modeled in economic theory.
Answer the following statement true (T) or false (F)
Which of the following would increase the quantity of LCD TVs demanded but would not increase the demand for LCD TVs?
a. an increase in the price of plasma TVs, a substitute b. an increase in incomes assuming that LCD TVs are normal goods c. an increase in the expected future price of LCD TVs d. a decrease in the current price of LCD TVs
Non-renewable resources are those that
a. are not renewed by nature, but their supply can be easily expanded by humans. b. are naturally renewed by nature; timber provides an example. c. are not renewed by nature at a significant rate. d. cannot be recycled, by their very nature.