Which of the following is an example of a physical constraint?
a. The work you can perform on 1,500 calories a day.
b. The wages you can earn against each hour of work.
c. The bank balance of an individual at any point of time.
d. The contract price at which you agree to sell your house.
A
Economics
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Which of the following is a feature of a good theory?
A) A good theory does not rely on data. B) A good theory cannot be tested with data. C) A good theory is free from approximations. D) A good theory closely predicts actual behavior.
Economics
In the above figure, if D2 is the original demand curve and the population falls, which price and quantity might result?
A) point a, with price P2 and quantity Q2 B) point b, with price P1 and quantity Q1 C) point c, with price P3 and quantity Q3 D) point d, with price P1 and quantity Q3
Economics