Why would an economist say that the Ford Motor Company has never made a choice or a decision?
A) Economists often want to deny the facts.
B) Ford doesn't make choices—only the U.S. automobile industry does.
C) To remind non-economists that individuals within an organization, rather than the organization itself, make choices.
D) Economists are strange creatures who only wish impress others with outrageous or ridiculous claims.
C
You might also like to view...
The steeper the central bank reaction function, the ________ the central bank increases the interest rate in response to the current inflation rate being above the target inflation rate and the ________ the central bank decreases the interest rate in
response to the actual inflation rate being below the target inflation rate. A) more; more B) more; less C) less; more D) less, less
A dominant strategy is one that is best for one player regardless of the strategy chosen by the other player.
Answer the following statement true (T) or false (F)
Mitt Romney argued in a debate with President Obama that the economy had grown more slowly in each year of the President's term than in the year prior to Obama's presidency. This claim is most related to the field of:
A. financial economics. B. macroeconomics. C. microeconomics. D. public policy.
Assuming that all other things are equal, including the wage, which of the following statements is correct?
a. The quantity of labor supplied for difficult jobs exceeds that for easy jobs. b. The quantity of labor supplied for fun jobs exceeds that for dull jobs. c. The quantity of labor supplied for dangerous jobs exceeds that for safe jobs. d. All of the above are correct.