A scientist who is studying earthquakes includes the impact of wind when performing some tests of damages to structures. This is an example of
A) failing to understand how to do scientific methodology.
B) irrational behavior in noneconomic situations.
C) accounting for every possible phenomena that may effect the problem under examination.
D) failing to hold all other things constant.
D
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Activities that encourage faster growth are
A) high levels of consumption and low levels of savings. B) high levels of saving and investment in human capital. C) imposing trade barriers to limit international trade and thereby protect national industries. D) limiting property rights so that everyone can use any invention. E) taxes on saving that serve to encourage more spending and less saving.
What would make the demand for labor more elastic?
What will be an ideal response?
Faster economic growth in the United States may lead to the serious macroeconomic problem of higher
a. levels of unemployment. b. federal budget deficits. c. levels of inflation. d. levels of poverty.
Profits can be maximized by equating MR = MC = Price
A) only in perfectly competitive markets. B) only in monopoly markets. C) only in discriminating monopoly markets. D) only with government price controls.