Economists speaking like scientists make
a. positive statements.
b. prescriptive statements.
c. claims about how the world should be.
d. More than one of the above is correct.
a
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Profit-maximizing, competitive firms will not discriminate in the hiring of workers unless consumers exercise a preference for discrimination in product markets or governments mandate discrimination
a. True b. False Indicate whether the statement is true or false
A demand curve shows the relationship
a. between income and quantity demanded. b. between price and income. c. between price and quantity demanded. d. among income, price, and quantity demanded.
One thing oligopolists must do in order to determine their optimal strategy is
A. ignore the reaction of their rivals to their strategy. B. ignore the reaction of their customers to their strategy. C. anticipate the reaction of their rivals to their strategy. D. anticipate the reaction of government to their strategy.
The narrowest definition of the money supply is
A) M1. B) M2. C) the difference between M2 and M1. D) the sum of M1 and M2.