In order to determine if a hypothesis is valid we must utilize
a. qualitative analysis.
b. empirical analysis
c. marginal analysis.
d. average analysis.
b
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A mixed economy is one that combines both public and private ownership of property.
Answer the following statement true (T) or false (F)
Given the data in Table 6.1, if the workers who are "not employed and not looking for work" were counted as not employed and in the labor force, the unemployment rate of Metropolis would be approximately
A) 4 percent. B) 7 percent. C) 9 percent. D) 10 percent.
Which of the following does NOT cause a shift in the supply curve for labor in an industry?
A) Worker tastes and preferences B) Population of the concerned region C) Opportunity costs faced by the workers D) Price of the final good that the labor is used to produce
In the long run, if firms in a perfectly competitive market are incurring economic losses, then
A) new firms will enter the market and the price will rise. B) some firms will leave the market and the price will fall. C) some firms will leave the market and the price will rise. D) new firms will enter the market and the price will fall.