When economists are trying to explain the world, they are scientists, and when they are trying to help improve the world, they are policy advisers
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Which of the following will lead to an efficient private solution if negative externalities are present in a market?
A) The party having the legal right is taxed. B) The party creating the externality has the legal property right. C) The party suffering from the externality has the legal property right. D) The parties involved negotiate with each other and reach an agreement.
If the rental rate increases, we know that output and labor input will fall in the long run.
Answer the following statement true (T) or false (F)
When states set receiving water quality standards
a. they must set the same standards for all water bodies within their boundaries b. benefit-cost analysis must be used c. the use designation need not be consistent with national goals d. all of the above e. none of the above
According to liquidity preference theory, the opportunity cost of holding money is
a. the interest rate on bonds. b. the inflation rate. c. the cost of converting bonds to a medium of exchange. d. the difference between the inflation rate and the interest rate on bonds.