Answer the following statement(s) true (T) or false (F)
1. Economists mostly observe and study what people think, not what they do.
2. Our charitable actions for others are influenced by our assessment of our own benefits and costs.
3. Rational self-interest means that individuals try to weigh the expected marginal benefits and marginal costs of their decisions.
4. Theories and models are more complex versions of the real world used to explain and predict behavior.
1. False
2. True
3. True
4. False
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Which of the following is NOT a regulation applying to swap dealers as a result of the Dodd-Frank Act?
A) Swaps must be traded through a clearinghouse. B) The value of swap contracts are limited to no more than $8 billion. C) Dealers are required to deposit a fraction of the value of the contract with the clearinghouse. D) Data on trades must be publicly available.
In 1860, ______________ was the top industry as ranked by value added
a. cotton goods b. boots and shoes c. men's clothing d. iron