For economic imperialists, economics is more of a method of analysis than a specific field of study
Indicate whether the statement is true or false
True
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Economists use the term shocks to mean
A) unexpected government actions that affect the economy. B) typically unpredictable forces that have major impacts on the economy. C) sudden rises in oil prices. D) the business cycle.
Consider the case of a teacher who tells students that those who miss more than three classes for any reason will automatically receive a lower grade
A) This is an example of a positive incentive for students to attend class. B) This is an example of a negative incentive for students to attend class. C) The teacher is assuming that students are irrational, and she must force them to attend class. D) Students who miss more than three classes are irrational.
In the balance of payments accounts, a net importer of capital is a nation that
What will be an ideal response?
Refer to Figure 9.8. If free trade in sugar is allowed, consumer surplus will be
A) $175. B) $250. C) $30,625. D) $61,250. E) $62,500.