Multiple Choice
A basic supposition of economics is that:
A) people always,and in every case,respond to economic incentives.
B) in general,people respond to economic incentives.
C) history shows that tax incentives rarely work.
D) people do not respond to changes in costs and prices.
Correct Answer:

Verified
Correct Answer:
Verified
Q44: Production efficiency:<br>A) reflects how often economists make
Q56: The concept of scarcity implies that people
Q64: Which of the following is NOT an
Q66: If two variables are positively related,then as
Q68: Suppose Mike has three hours of time
Q70: With the use of specialization:<br>A) society is
Q71: Describe the ceteris paribus assumption and discuss
Q127: In the equation S = 130 -
Q230: The observation that highly productive countries have
Q248: Positive questions involve the understanding of basic