Dogs are more popular than cats in the U.S., but if cats were to become the more popular pet, then we can we expect that in the market for cat-food workers

It is not uncommon for business professors to make a statement such as the following: "While economists are happy in their never-never land of economic theory, we business professors seriously study facts of the real world"

According to your textbook, the statement is A) generally true. B) misleading; even business professors rely upon theories to discriminate among and make sense out of the facts they choose to study. C) confused, because in actuality it is the business professors who are trapped in the never-never land of theory, while the economists seriously study real-world facts without using theories. D) false, because economics and business are one and the same discipline.

The Granger Cases of the 1870s

(a) sealed the fate of the U.S. railroad system, even though the cases were covered under a case involving a grain elevator. (b) came before the U.S. Supreme Court because state legislatures had passed laws in the 1870s to allow state agencies to control various aspects of railroad operation, including rate setting; these laws were then challenged by railroad companies. (c) established the principle that railroads were unquestionably subject to permanent regulation. (d) are true for all of the above.