What type of economic analysis is limited to testable, verifiable statements?
a. Macroeconomics. b. Entrepreneurial economics.
c. Positive economics. d. Normative economics.
c
Economics
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"Compensating wage differentials" arise because:
a. workers possess different skills. b. workers prefer the characteristics of some to those of others. c. firms pay higher wages for workers with higher marginal productivities. d. firms discriminate in hiring.
Economics
One of the reasons why firms pollute the air is that
A. use of the air is not easily excludable. B. use of the air is costless to society. C. use of the air is excludable. D. moral hazard creates incentives to pollute the air.
Economics