Studying which of the following is helpful in learning to think like an economist?
a. theory
b. case studies.
c. examples of economics in the news.
d. all of the above.
Answer: d. all of the above.
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In the mid-1980s, the salaries of accounting professors with Ph.D.s increased dramatically. This resulted in an increase in enrollments in Ph.D. accounting programs
Since a Ph.D. degree in accounting may take at least four years to complete, the short-run elasticity of supply of accounting professors is A) greater than the long-run-elasticity of supply. B) less than the long-run elasticity of supply. C) equal to the long-run elasticity of supply. D) equal to the short-run elasticity of demand.
Laws that require children to be inoculated against certain diseases before they enter kindergarten are examples of the command approach
a. True b. False Indicate whether the statement is true or false