Utils are used by economists to measure the satisfaction a person obtains from consuming a good
Indicate whether the statement is true or false
T
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All of the following products are likely to have significant network externalities except
A) cat food. B) cell phones. C) Twitter. D) popular board games.
When two variables have been observed to have a tendency to occur at the same time, we can say there is ____________ but not necessarily ____________.
A. causation; correlation B. correlation; causation C. positivity; causation D. normality; correlation
The decision of which assumptions to make is
a. an easy decision for an economist, but a difficult decision for a physicist or a chemist. b. not a particularly important decision for an economist. c. usually regarded as an art in scientific thinking. d. usually regarded as the easiest part of the scientific method.
The marginal tax rate is the change in the average tax rate as income increases.
Answer the following statement true (T) or false (F)