The scientific method is more difficult for economists than, say, chemists, because:
A) controlled laboratory conditions are more problematic in economics.
B) it is difficult to hold other factors that may affect the variables being studied constant in economics.
C) economic conditions may change quickly and unexpectedly.
D) all of the above.
Ans: D) all of the above.
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The figure above shows a nation's consumption function. The amount of autonomous consumption expenditure is
A) $1 trillion. B) more than $3 trillion. C) $3 trillion. D) $0. E) $2 trillion.
Refer to Figure 7.1. Suppose the city passes an ordinance banning loud music, and this directly impacts Angus's legal ability to play his bagpipes. The payoffs in the lower-right cell of the payoff matrix would change to
A) 0, 0. B) 550, 100. C) 100, 550. D) The payoffs would not change.