Economists and others use economic theory
A. only to analyze situations in which money changes hands.
B. as a partial basis for public policy recommendations.
C. to confuse their enemies.
D. instead of using value judgments concerning important policy issues.
Answer: B
Economics
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By making exchange ________, money allows for ________ and higher ________
A) harder; specialization; costs B) easier; specialization; productivity C) easier; specialization; costs D) harder; generalization; productivity
Economics
Price ceilings are imposed if the government believes:
a. the market will not achieve an equilibrium price. b. the market equilibrium price is too low. c. an excess supply of the product exists. d. the market equilibrium price is too high. e. the demand will be less than the supply of the product.
Economics