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Based on this unit's readings, answer succinct, one-sentence definition of economics. Then provide a response to this question: When economists talk about economic facts, they
Based on this unit's readings, answer succinct, one-sentence definition of economics. Then provide a response to this question: When economists talk about economic facts, they usually talk about a positive relationship or a negative relationship instead of a positive slope or negative slope. For example, the number of cigarettes a person smokes and her life expectancy has a negative relationship. Give examples for pairs of variables which have a positive relationship and those with a negative relationship.
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