The statement "the unemployment rate is 5.1%" is an example of a
A. normative statement.
B. non-verifiable statement.
C. value judgement.
D. positive statement.
Answer: D
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When the price of only one good rises, the relative price of that good
A) falls. B) rises. C) does not change. D) rises if it is a normal good and falls if it is an inferior good.
Some types of aid limit or reduce potential benefits as a result of ______ , particularly when aid must be spent on goods or services from the donor country.
Fill in the blank(s) with the appropriate word(s).
Both country 1 and country 2 are located on their respective production possibilities frontiers (PPFs) for consumer goods and capital goods, but country 1 produces twice the output of both types of goods compared to country 2. It follows that
A) country 1's PPF lies further to the right than country 2's PPF. B) country 1 has a smaller population than country 2. C) country 1 has a bigger population than country 2. D) country 1 is efficient and country 2 is inefficient. E) none of the above
A political leader suggesting that the country "stay the course" in the face of an economic downturn because things will be potentially made worse if tax and spending policies are adopted, is, by implication, suggesting ________ is better.
A. Discretionary Fiscal Policy B. Trade policy C. Regulatory changes D. Nondiscretionary Fiscal Policy