Economists face an obstacle that many other scientists do not face. What is that obstacle?
a. It is often difficult to formulate theories in economics.
b. It is often impractical to perform experiments in economics.
c. Economics cannot be addressed objectively; it must be addressed subjectively.
d. The scientific method cannot be applied to the study of economics.
b
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According to this theory of the term structure, bonds of different maturities are not substitutes for one another
A) segmented markets theory B) expectations theory C) liquidity premium theory D) separable markets theory
Banks will keep excess reserves when
A. they do not foresee profitable opportunities to make loans. B. business conditions generally are depressed. C. they do not foresee opportunities to make secure loans. D. All of these responses are correct.
If Joe and Sarah are faced with the game in the figure shown, we can see that:
This figure shows the payoffs involved when Sarah and Joe work on a school project together for a single grade. They both will enjoy a higher grade when more effort is put into the project, but they also get pleasure from goofing off and not working on the project. The payoffs can be thought of as the utility each would get from the effort they individually put forth and the grade they jointly receive.
A. Joe has a dominant strategy, but Sarah does not.
B. Sarah has a dominant strategy, but Joe does not.
C. neither student has a dominant strategy.
D. both students have a dominant strategy.
Which of the following cities does not have a Federal Reserve Bank?
a. Dallas b. Kansas City c. Los Angeles d. Cleveland e. Miami