Refer to Table 9-12. Which country has an absolute advantage in producing swords?
A) Estonia B) Morocco C) both countries D) neither country
A
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Quantitative forecasting that projects past data without explaining the reasons for future trends is called
A) scientific forecasting. B) dumb forecasting. C) empirical forecasting. D) naïve forecasting.
The phase of the business cycle characterized by rising output is called a(n)
a. peak b. recession c. depression d. trough e. expansion
Paul Samuelson is immensely famous among economists for having established the supply-side school of economics
Indicate whether the statement is true or false
The use of seat belts and other automobile safety features making bicycling more hazardous can be explained by the economic concept known as:
A. the real-nominal principle. B. the marginal principle. C. the principle of voluntary exchange. D. the principle of diminishing returns.