As a scientist, an economist's main professional objective is to
a. become wealthy
b. control the government's decision-making processes
c. understand how the economy works
d. discover which stock prices will decrease
e. understand the psychology of participants in markets
C
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Explain which of the following count as money. a) a check in Ann's checkbook b) currency in Ann's bank c) currency in Ann's purse d) Ann's checking deposit
What will be an ideal response?
From 1929 to 2013, the unemployment rate in the U.S. ________
A) has continued to grow but has always remained well above zero B) has fluctuated around zero C) has gone up and down but has always remained well above zero D) has decreased in most recessions E) has grown by a factor of four
A cartel is a group of firms that attempt to collude by coordinating price and output decisions
a. True b. False Indicate whether the statement is true or false
Based on the graphs showing price discrimination in movie ticket prices, an elastic demand curve prompts theatres to ______.
a. charge higher prices
b. charge lower prices
c. go bankrupt
d. add more seats