_________________ economics focuses on facts and cause-and-effect relationships.

Robert Shiller posed the following question to workers: "Imagine that next year the inflation rate unexpectedly doubles

How long would it probably take, in these times, before your income is increased enough so that you can afford the same things as you do today?" Shiller found that ________ percent of the workers he interviewed reported that it would take several years to restore the purchasing power of their wages or that this power would never be restored. A) 25 B) 42 C) 64 D) 81

In a perfectly competitive resource market, the marginal resource cost of a resource equals the price of the resource

a. True b. False