Empiricism refers to using ________ to analyze the world
A) data
B) beliefs
C) traditions
D) value judgments
A
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Because a third of government outlays are linked directly to the CPI, as time passes, the CPI bias means that the government's outlays are
A) larger than needed to keep pace with the cost of living. B) larger than needed to keep pace with the cost of living if the CPI is falling from one year to the next, otherwise the outlays are smaller than needed to keep pace with the cost of living. C) exactly equal to the changes in the cost of living. D) smaller than needed to keep pace with the cost of living. E) smaller than needed to keep pace with the cost of living if the CPI is falling from one year to the next, otherwise the outlays are larger than needed to keep pace with the cost of living.
Refer to Table 18.1. M2 in this simple economy equals
A) $1,050. B) $4,050. C) $4,550. D) $5,100.
If price goes up 20 percent and quantity demanded declines by 10 percent, total revenue will rise.
Answer the following statement true (T) or false (F)
Stewart is a lobsterman. His traps are
a. private goods and the lobster he catches are common resources. b. private goods and the lobster he catches are public goods. c. rival in consumption and the lobster he catches are not rival in consumption. d. not rival in consumption and the lobster he catches are not rival in consumption.