Which of the following most accurately describes changes in life expectancy?
a. Life expectancy was relatively low until 1750, after which it increased rapidly.
b. Life expectancy has increased steadily during the past 6,000 years.
c. Life expectancy was low until after World War II, after which it increased very quickly.
d. Life expectancy has exhibited significant cyclical patterns of growth and decline.
a. Life expectancy was relatively small until 1750, after which it increased rapidly.
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Suppose Hanna spends her entire budget buying bagels and cups of coffee each day. Also, suppose the marginal utility of her last bagel is 100 and the marginal utility of her last cup of coffee is 200
If the price of a bagel is $4 and the price of a cup of coffee is $2, then A) Hanna needs to decrease her consumption of bagels to maximize her utility. B) Hanna needs to increase her consumption of bagels to maximize her utility. C) Hanna should buy half as many bagels as coffee in order to maximize her utility. D) bagels must provide more total utility than coffee.
When economists use the term ceteris paribus, they are indicating that
a. the relationship between two economic variables cannot be determined. b. the analysis is true for the individual but not for the economy as a whole. c. all other variables except the ones specified are assumed to be constant. d. their conclusions are based on normative economics rather than positive economic analysis.
Wanda owns a lemonade stand. She produces lemonade using five inputs: water, sugar, lemons, paper cups, and labor. Her costs per glass are as follows: $0.01 for water, $0.02 for sugar, $0.03 for lemons, $0.02 for cups, and $0.10 for the opportunity cost of her labor. She can sell 300 glasses for $0.50 each. What are Wanda's total accounting profits?
a. $150 b. $126 c. $96 d. $24
We state that the evidence __________________ if evidence is consistent with a theory's predictions
A) fails to reject the theory B) proves the theory is correct C) proves the theory is invalid D) none of the above