The field of political economy applies the methods of
a. psychology to study how the economy works.
b. political science to study how the economy works
c. economics to study how government works.
d. psychology to study how government works.
c
Economics
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We should never assume that an inelastic demand curve is a perfectly inelastic demand curve because
A) perfectly inelastic demand curves are rare. B) an inelastic demand curve may be perfectly inelastic at some times but not others. C) an inelastic demand curve may be elastic at low prices. D) there has never been evidence of a perfectly inelastic demand curve.
Economics
Which of the following does an efficiency wage primarily aim to combat?
a. consolidation of a minimum wage b. formation of unions c. dereliction of duties d. rising inflation
Economics