The basic task of economics is to
A) explain the tax and expenditure policies of governments.
B) report on key economic indicators, such as GDP and unemployment.
C) explain the forces that underlie human decision making.
D) predict the future movements of the stock market.
C) explain the forces that underlie human decision making.
You might also like to view...
Which of the following factors influence the position of the long-run aggregate supply curve?
A) government spending B) the supply of money C) the level of full-employment output D) taxes
Suppose that opportunity costs in India and Australia are constant. In India, maximum feasible hourly production rates are either 0.3 unit of cloth or 0.2 unit of food
In Australia, maximum feasible hourly production rates are either 0.5 unit of cloth or 0.5 unit of food. It is correct to state that A) India has a comparative advantage in producing cloth. B) India has a comparative advantage in producing both cloth and wheat. C) India has no comparative advantage in producing cloth or wheat. D) Australia has a comparative advantage in producing cloth.