Economists Normally

question 150

Multiple Choice

Economists normally

• A)do not try to explain people's tastes,but they do try to explain what happens when tastes change.
• B)believe that they must be able to explain people's tastes in order to explain what happens when tastes change.
• C)do not believe that people's tastes determine demand,so they ignore the subject of tastes.
• D)incorporate tastes into economic models only to the extent that tastes determine whether pairs of goods are substitutes or complements.

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Definitions:

Business District

A region within a city where the bulk of office buildings, commercial properties, and financial institutions are located.

Growth Coalition

A partnership between various stakeholders, such as businesses and local government, aiming to foster economic development and urban growth.

Urban Ruling Class

A social class or group that holds significant power, influence, or resources within urban areas, often shaping policy and cultural norms.

Collective Identity

A shared sense of belonging to a group, characterized by a common culture, interests, or values among its members.