Economics is different from a "hard" science like physics because:
a. economists abstract from reality in creating their theories
b. economics is easier to study than physics.
c. economists must explain their theories to policy makers who lack formal mathematical training.
d. economists cannot easily control all the variables that might influence human behavior.
d
Economics
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If the government provides a subsidy of $1 per hour to employers for hiring workers, ________
A) the equilibrium real wage will increase B) labor demand will decrease C) the equilibrium employment will decrease D) labor supply will increase
Economics
A ____________ curve graphically shows the? trade-off that occurs when more of one output is obtained at the sacrifice of another. This curve is a graphical representation? of, among other? things, opportunity cost.
Fill in the blank(s) with the appropriate word(s).
Economics