The scientific method and the tools of economics are useful in examining:
A) only how individuals make decisions.
B) only how business firms make decisions.
C) only how government policies affect macroeconomic outcomes.
D) only the trade-offs evident in production possibilities frontier (PPF) .
E) anything; economists will use their tools to study anything in the world around them.
Correct Answer:
Verified
Q1: Why do economists use models?
A) Models are
Q2: Which of the following is a normative
Q5: The process of examining a change in
Q6: Which of the following is a positive
Q7: Which of the following is a positive
Q8: The important act of holding all other
Q8: An economist's use of experiments and real-world
Q9: Which of the following is a normative
Q13: A positive statement
A) is a claim that
Q26: A model without any simplifying assumptions
A) is
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