Economists will always reach the same conclusion in their positive analyses
Indicate whether the statement is true or false
FALSE
You might also like to view...
Kate and Alice are small-town ready-mix concrete duopolists. The market demand function is Qd = 20,000 - 200P where P is the price of a cubic yard of concrete and Qd is the number of cubic yards demanded per year. Marginal cost is $80 per cubic yard. Suppose Kate enters the market first and chooses her output before Alice. What is Alice's profit?
A. $10,000 B. $5,000 C. $20,000 D. $15,000
The natural rate of unemployment does not include
a. frictional unemployment b. technological unemployment c. workers who are unemployed because of a recession d. people laid off because the demand for their good disappeared, such as blacksmiths e. people who voluntarily quit their jobs to look for other, more promising jobs
Economic theory is a necessity, not a luxury. This statement is true because theory
a. always leads to practical and useful policy. b. can prevent depressions in the economy. c. substitutes for vast amounts of data. d. provides a structure for organizing and analyzing data. e. always leads to accurate predictions.
What are the arguments for and against federal government grants to states?