In scientific language, a theory is an untested assertion of alleged fact
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
If supply is elastic, the supply curve is relatively ________, and if demand is elastic, the demand curve is relatively ________
A) flat; flat B) flat; steep C) steep; flat D) steep; steep
Business cycle persistence refers to the property that
A) real GDP is rarely exactly at trend. B) booms and recessions last a long time. C) when real GDP is above trend, it tends to stay above trend, and when it is below trend, it tends to stay below trend. D) business cycles are persistently hard to predict.
When people invest at home, it is called _____, and when they invest abroad it is called _______.
A. I; NCO B. I; NX C. S; I D. S; NCO
Price and total revenue move in opposite directions when demand is elastic
Indicate whether the statement is true or false