The scientific method can be applied to the study of economics
a. True
b. False
Indicate whether the statement is true or false
True
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The United States tends to export
A) only a narrow range of products such as wheat. B) a wide set of products, primarily manufactured goods. C) very little. D) None of the above.
In the nonstrategic view of bargaining
a. Insights are drawn from how many similar games are played without specifying the strategies b. We use the fact that bargaining often results in a fifty-fifty split c. The bargain is affected by the parties' disagreement values d. All of the above
The two "goods" used when economists analyze labor supply are
a. work and leisure. b. work and consumption. c. saving and consumption. d. leisure and consumption.
It is costly to purchase a new car every two or three years because
What will be an ideal response?