Assumptions for economic theories and models should be
A) rejected if they are not totally realistic.
B) logical rather than empirically testable.
C) simple and reasonable rather than complex.
D) maintained until overwhelming evidence to the contrary occurs.
C
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The more equal the income distribution in a society, the smaller the Gini coefficient
Indicate whether the statement is true or false
Mobutu Sese Seko was President of ________
A) Canada B) Zaire C) Cote d'Ivoire D) Tajikistan
Which of the following is TRUE?
a. Purchase a supplier as long as the supplier is profitable b. Purchasing a profitable customer would lead to an increase in profits c. Purchasing a profitable supplier may not necessarily increase your profits d. Purchasing a profitable supplier is a bad idea and would lead to decreased profits
Electricity pricing that varies in its billing expense throughout the day is called
a. marginal cost pricing b. variable pricing c. full cost pricing pricing d. marginal pricing e. dynamic pricing