Economists are often perceived as disagreeing with each other. Is this the way things really are?
A. No, economists agree on much more than is commonly supposed.
B. No, the problem is that some economists are smarter than others.
C. No, economists “stage” disagreements for public amusement.
D. Yes, economists rarely agree on much of anything.
E. Yes, economists are unable to analyze problems dispassionately.
Answer: A
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Use the following graph for a private closed economy (an economy with only a private sector and no international trade) to answer the next question. In this economy, investment is
A. $50 billion. B. $150 billion. C. $100 billion. D. $200 billion.
Using the information in Table 6.2, the Astro Consumer Price Index for 2016 is
A) 87. B) 104. C) 131. D) 298.
The self-interest of the participants in an economy is guided into promoting general economic self-interest by
a. the invisible hand. b. market power. c. government intervention. d. oikonomos.
An example of a public good is
A. the car I own. B. housing subsidies. C. software produced by Microsoft. D. the fire department.