Which of the following statements is true?
A) Using fewer observations will strengthen the force of an empirical argument.
B) The number of observations used does not affect the strength of an empirical argument.
C) Empirical arguments can be supported without the use of data.
D) Using a large data set will strengthen the force of an empirical argument
D
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The Other America, which challenged the notion that we had conquered poverty, was written by ___________.
Fill in the blank(s) with the appropriate word(s).
We can estimate that if a country grows at 7 percent per year, it will double its real GDP per capita in:
A. 2 years. B. 20 years. C. 35 years. D. 10 years.
Lowering the discount rate will
A) decrease reserves, encourage banks to make fewer loans, and decrease the money supply. B) decrease reserves, encourage banks to make fewer loans, and increase the money supply. C) increase reserves, encourage banks to make more loans, and increase the money supply. D) increase reserves, encourage banks to make more loans, and decrease the money supply.
Refer to the diagram for a natural monopolist. If a regulatory commission set a maximum price of P 2 , the monopolist would:
A. produce output Q 1 and realize an economic profit.
B. produce output Q 3 and realize an economic profit.
C. close down in the short run.
D. produce output Q 3 and realize a normal profit.