19.According to the text, British soldiers were required to wear bright red coats during the Revolutionary War in order to make it easier to find deserters.
20.Some economic studies have shown that mandatory seat belt laws do not lead to a reduction in traffic fatalities.
MSC:Economics 24/721.The slope of a horizontal line is always equal to zero.
22.The slope of a curve varies from one point to another.
23.The slope of a straight line is always equal to either 1.0 or -1.0.
24.Scarcity occurs in both wealthy societies and poor societies.
1.Describe at least three of the key concepts in economics introduced in Chapter 1 of the text that define how an economist views the world.
2.What is the difference between macroeconomics and microeconomics? Give an example of a question that a macroeconomist might be interested in answering, then do the same for a microeconomist.