Which of the following statements is true about data?
A) Empiricism does not necessarily involve data.
B) Consistency of models can be checked using data.
C) Convincing data analysis in economics relies on using a small sample.
D) Facts that describe the world are not considered data.
B
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When referring to "marginal" changes, the economic focus is on
A) changes which affect only a few people or products. B) large changes on the low end. C) small or incremental changes. D) graduated changes on the high end.
When is the definition and enforcement of property rights especially difficult?
a. when many polluters harm a large group of people by emitting the same pollutant b. when a single polluter is harming a single person or entity c. when land is owned by a corporation d. when the benefits of prosecution are clear
If coal-burning electrical utility companies fully internalized pollution costs, then we could expect
A) an increase in electricity prices. B) a decrease in electricity prices. C) no change in electricity prices. D) a greater use of coal to produce electricity.
The Great Recession began in ________ and ended in ________.
A. October 2008; December 2011 B. October 2008; June 2009 C. December 2007; June 2009 D. December 2007; December 2011