A testable proposition that predicts how people will react to changed circumstances is called a hypothesis
a. True
b. False
Indicate whether the statement is true or false
True
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Economics can decide
A. the appropriate trade-off between fairness and efficiency. B. which pricing arrangements are fair and which are unfair. C. whether a pricing decision will impose heavy inefficiency costs on society. D. All of the responses are correct.
A curve showing the lowest cost at which a firm is able to produce a given level of output in the long run is
A) a long-run average total cost curve. B) a minimum efficient scale curve. C) a long-run production function. D) a long-run marginal cost curve.
Impact investors are willing to be more patient, take greater risks, and sometimes accept lower financial returns as long as they're convinced that their money:
A. is being used to create social change. B. will have a better financial return in the long run. C. is gaining more worth than it would in domestic investments. D. None of these statements is true.
Refer to the diagram. An industrial (inclusive) union could increase employment in this labor market:
A. by negotiating any wage rate between W 1 and W 4 .
B. by negotiating a wage rate greater than W 4 .
C. only if it accepted a wage rate below W 1 .
D. only if it could shift the labor demand curve rightward.