Which of the following is true?
i. A rational choice is made on the margin.
ii. Microeconomics is the study of the national economy while macroeconomics is the study of the global economy.
iii. Economists try to understand how the economic world works by testing normative statements.
A) only ii B) only i C) only iii D) i and ii E) i and iii
B
Economics
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Pumpkins are grown in New Mexico with the aid of fertilizer. Hence, fertilizer is a partial answer to which of the three economic questions?
What will be an ideal response?
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Sellers as a group determine the demand for a product, and buyers as a group determine the supply of a product
a. True b. False Indicate whether the statement is true or false
Economics