When it is impossible to carry out a controlled experiment, economists often turn to a:
A. self-confirming equilibrium.
B. precommitment strategy.
C. natural experiment.
D. irrational behavior.
Answer: C
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Refer to Table 16-2. How many tubes of toothpaste will Neem sell in West Fall and at what price?
A) Q = 2 units; P = $4.50 B) Q = 3 units; P = $4 C) Q = 5 units; P = $3 D) Q = 4 units; P = $3.50
"There is a direct relationship between economic growth rates and the wealth of a nation." Do you agree or disagree? Why?
What will be an ideal response?
Permanent members of the Federal Open Market Committee include
a. all members of the Board of Governors. b. the president of the New York Federal Reserve Bank. c. the secretary of the U.S. Treasury. d. both the president of the New York Federal Reserve Bank and all members of the Board of Governors.
All, but the super wealthy, have a finite or limited amount of income.
a. true b. false