Which of the following is not correct?
a. Economists have two roles: scientist and policy adviser.
b. As scientists, economists develop and test theories to explain the world around them.
c. Economic policies rarely have effects that their architects did not intend or anticipate.
d. As policy advisers, economists use their theories to help change the world for the better.
c
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Suppose Renee can increase her total utility from consuming video rentals and books by buying one more book and renting one fewer video. Which of the following is true?
A) The marginal utility of video rentals is negative. B) The marginal utility of the last book consumed exceeds the marginal utility of the last video rental consumed. C) The marginal utility of the last video rental consumed exceeds the marginal utility of the last book consumed. D) The marginal utility per dollar spent on books exceeds that of video rentals.
Give an example of an industry that would seek intellectual property rights protection because its product incorporates innovation and research
What will be an ideal response?
For state member banks, the "primary" federal regulator is the
A) Federal Reserve. B) FDIC. C) House Banking Committee. D) Comptroller of the Currency.
Data on world reserves of minerals, gathered by Blackman and Baumol, show that between 1950 and 2000 . production of most minerals
a. greatly exceeded the reserves available in 1950. b. declined as depletion occurred. c. greatly reduced the reserves available in 2000. d. was limited to a fraction of the reserves available in 1950.