Multiple Choice
The case study on Japanese vending machines is a story that teaches us
A) how a less expensive resource (vending machines) can be substituted for a more expensive resource (labor)
B) how a more expensive resource (vending machines) can be substituted for a less expensive resource (capital)
C) how technological innovations (such as vending machines) can eliminate jobs
D) that machines are starting to dominate our lives
E) how a technological unsophisticated economy can begin to use machinery
Correct Answer:
Verified
Correct Answer:
Verified
Q73: A normative economic statement<br>A)is a hypothesis used
Q74: Economists tell stories -- like the vending
Q75: The resource identified as land would include<br>A)the
Q76: In economics, marginal means<br>A)incremental or decremental<br>B)unimportant<br>C)level or
Q77: The difference between positive economic statements and
Q79: Most economists consider a theory a good
Q80: The existence of scarcity as defined by
Q81: A market<br>A)is often a physical place<br>B)facilitates exchanges
Q82: Economists believe that individuals respond in a
Q83: Profit is the payment received by resource