Which of the following statements is incorrect?
A) it is not possible for economists to use the laboratory methods of research practised in the physical sciences
B) opportunity cost must be considered when making decisions regarding the use of scarce resources
C) the law of diminishing returns influences the shape of the production-possibilities curve
D) the free market approach to economic decision-making allows for some government decisions in important economic matters
Correct Answer:
Verified
Q34: Which of the following would be most
Q35: Which of the following does not affect
Q36: Assume that a country can only produce
Q37: If a country is operating at a
Q38: The production possibilities curve of a socialist
Q40: If Canada's population were to decline:
A) the
Q41: An increase in Canada's unemployment rate would
Q42: A production-possibilities curve is an example of:
A)
Q43: Thomas Robert Malthus is best associated with
Q44: Malthus believed that:
A) advances in birth-control technology
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