The goal of an economist who formulates new theories is to
a. provide an interesting framework of analysis, whether or not the framework turns out to be of much use in understanding how the world works.
b. provoke stimulating debate in scientific journals.
c. contribute to an understanding of how the world works.
d. demonstrate that economists, like other scientists, can formulate testable theories.
c
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In the figure above, ________ is a technologically efficient point
A) d B) f C) g D) None of the selections is correct.
According to Gordon, which of the following is NOT a plausible explanation for a decrease in the measured growth of capital per worker in the United States after 1973?
A) higher inflation causes overtaxation and discourages saving B) increased labor force participation by women C) slower growth in the capital stock D) lower real wages in response to supply shocks in the 1970s
A firm's horizontal dimension refers to
A) its size in its primary market. B) its size in all markets in which is competes. C) the level of supply chain integration the firm undertakes. D) the number of stages in the production process that are upstream from the stages the firm undertakes.
Which of the following serve as the language of the market system?
a. Monetary and fiscal policies b. Volatility c. Market prices d. Lawsuits