Experiments:
A. make it easier to determine whether people's choices are consistent with standard economic theory, but can make it harder to establish causality.
B. often make it easier to establish causality, but can make it harder to determine whether people's choices are consistent with standard economic theory.
C. make it easier both to establish causality and to determine whether people's choices are consistent with standard economic theory.
D. make it harder both to establish causality and to determine whether people's choices are consistent with standard economic theory.
C. make it easier both to establish causality and to determine whether people's choices are consistent with standard economic theory.
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Which of the following programs or policies could be used to decrease water shortages?
a. Decrease supply b. Increase demand c. Impose taxes on water producers d. Impose subsidies on water users e. Implementing greywater systems f. None of the above. g. All of the above.
The World View article "U.S. Slaps China with Huge Anti-Dumping Tariffs" says new tariffs will be imposed on steel from China, and
A. Consumers will benefit from this U.S. trade policy. B. Chinese consumers will benefit. C. U.S. steel distributors will gain from the tariff. D. U.S. steel producers will benefit from the tariff.
Savings and taxes are considered leakages in the circular flow model.
Answer the following statement true (T) or false (F)
Ceteris paribus, if Korea increases the size of its military, then its production:
A. Possibilities curve will shift outward. B. Possibilities curve will shift inward. C. Of consumer goods will increase. D. Of consumer goods will decrease.