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The disagreement between these economists is most likely due todifferences in scientific judgments .Points:1 / 1Close ExplanationExplanation:There are two main reasons that economists tend to disagree: differences in values and differences in scientific judgments. In this case, the econo...
Read MoreStatement | Positive | Normative |
---|---|---|
Lung cancer kills millions of people each year. | ||
Too many people smoke. | ||
If the government were to increase taxes on cigarettes, fewer people would smoke. | ||
The government should increase taxes on cigarettes. |
lassify each of the listed statements as either positive or normative.StatementPositiveNormativeLung cancer kills millions of people each year.Too many people smoke.If the government were to increase taxes on cigarettes, fewer people would smoke.The government should increase taxes on cigarettes.Poi...
Read MoreMicroeconomics | Macroeconomics | |
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The effect of an increase in the money supply on the rate of inflation | ||
The effect of government regulation on a monopolist's production decisions | ||
The government's decision on how much to spend on public projects |
Determine whether each of the following topics would more likely be studied in microeconomics or macroeconomics.MicroeconomicsMacroeconomicsThe effect of an increase in the money supply on the rate of inflationThe effect of government regulation on a monopolist's production decisionsThe government's...
Read MoreChoice | Hours Crafting | Produced | ||
---|---|---|---|---|
(Picture frames) | (Cutting boards) | (Picture frames) | (Cutting boards) | |
A | 8 | 0 | 4 | 0 |
B | 6 | 2 | 3 | 11 |
C | 4 | 4 | 2 | 16 |
D | 2 | 6 | 1 | 19 |
E | 0 | 8 | 0 | 20 |
On the following graph, use the blue points (circle symbol) to plot Alex's initial production possibilities frontier (PPF).Your AnswerInitial PPFNew PPF012345678302520151050CUTTING BOARDSPICTURE FRAMES0, 20Correct AnswerPoints:1 / 1Close ExplanationExplanation:Each row of the table refers to one poi...
Read MoreNote: Select either end of the curve on the graph to make the endpoints appear. Then drag one or both endpoints to the desired position. Points will snap into position, so if you try to move a point and it snaps back to its original position, just drag it a little farther.Your AnswerPPF0408012016020...
Read MoreComplete the following table by indicating whether each point represents output combinations that are inefficient, efficient, or unattainable. Check all that apply.PointInefficientEfficientUnattainableABCDEFPoints:1 / 1Close ExplanationExplanation:Every output combination on the production possibili...
Read MoreEvent | Factor Market | Product Market |
---|---|---|
Lucia earns $625 per week working for A-Plus Tutoring. | ||
Kenji spends $125 to purchase tutoring services from A-Plus Tutoring. | ||
Lucia spends $8 to take a spin class. |
Based on this model, households earn income whenfirms purchasefactors in factor markets.Suppose Lucia earns $625 per week working as a math tutor for A-Plus Tutoring. She uses $8 to take a spin class at Silver’s Gym. Silver’s Gym pays Kenji $225 per week to work as a trainer....
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b) An economist would look for data on past changes in the money supply and note the resulting changes in the price level.What method could an economist use to gather empirical data in order to test the proposed relationship between money and the price level?Economists do not usually develop theoret...
Read Morea. disagree because they have different scientific judgments...
Read Moreb. disagree because they have different values...
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