The study of the efficient allocation of the scarce means of production toward the satisfaction of human wants defines ______________.

An advocate of supply-side fiscal policy would advocate which of the following?

a. Subsidies to produce technological advances. b. Reduction in regulation. c. Reduction in resource prices. d. Reduction in taxes. e. All of these.

"The hotter it gets, the more water people drink." This statement implies that the relationship between temperature and water consumption must have a

a. negative slope. b. positive slope. c. slope always equal to one. d. slope always equal to 45 degrees.