When is a hypothesis accepted?
a. if it uses plausible abstractions
b. if it uses general assumptions
c. if it fits well with the facts.
d. if it reflects a complex view
c. if it fits well with the facts.
Economics
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Within the simple Keynesian model with lump-sum taxes, if the MPC (b) were 0.75 then if taxes rise by $200 then income
a. rises by $800. b. falls by $200. c. falls by $800. d. rises by $200. e. falls by $800.
Economics
The percentage of total national income spent on health care in the United States has
A) declined rapidly since 1965. B) remained below the level of inflation. C) risen steadily since 1965. D) remained constant over the last few years.
Economics