Which of the following is not a central focus of the "economic perspective"?
A. Marginal analysis
B. Scarcity and choice
C. The scientific method
D. Purposeful behavior
Answer: C
You might also like to view...
If firms reduce the rate at which inventories are rising,
A. firms are less likely to reduce production when sales fall. B. fluctuations in GDP are likely to be more dramatic. C. an increase in unplanned inventory investment becomes more likely. D. All of the above will occur if firms reduce the rate at which their inventories accumulate.
In the market for bananas, the price is $2.00 a bunch. An increase in the supply of bananas decreases the price of bananas and ________
A) the quantity supplied increases because the price falls B) increases the demand for bananas C) increases the quantity of bananas demanded D) creates a shortage of bananas
Refer to the Article Summary. Assume countries initially enacted protectionist measures against Chinese steel imports. If these protectionist measures were eventually eliminated, then all else equal, the price of steel in those countries would ________ and the quantity of steel demanded in those countries would ________.
A) decrease; decrease B) increase; decrease C) decrease; increase D) increase; increase
According to the classical view,
a. velocity is constant, which means changes in price will cause changes in price or quantity. b. quantity is constant, which means changes in the money supply could cause either changes in velocity or changes in prices. c. velocity and price are constant so that changes in the money supply causes changes in quantity. d. velocity and quantity are constant so that changes in the money supply cause changes in prices. e. velocity is constant while quantity is variable so that changes in the money supply change both price and quantity.