A normative statement
A) depends on someone's values.
B) cannot use the word "should."
C) says what is currently believed about the way the world operates.
D) must be tested to determine if it is correct.
E) can be tested to determine if it is correct.
A
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In the Battle of the Sexes game,
a. Fred and Ethel are best off choosing the activity they prefer. b. Fred is better off attending the opera with Ethel than having Ethel attend the boxing match with him. c. Ethel is better off attending the boxing match with Fred than having Fred attend the opera with her. d. Fred and Ethel would both be better off choosing to attend either activity together than going alone to the activity they prefer.
Which of the following could lead to an upward shift in the consumption function?
A) A decrease in home values B) A decline in wages C) An increase in stock prices D) A rise in wages
Who owns the Federal Reserve banks?
A) the private commercial banks in each district which are members of the Federal Reserve System B) those households which have purchased stock in Federal Reserve System C) the federal government D) the governments of the states in which the banks are located
Because of the relationship among ethanol production, sugar, and corn the authors of your text have concluded that:
a. the corn subsidy is a big problem for ethanol exports. b. the sugar quota makes sugar so cheap in the United States that ethanol producers are using it instead of corn. c. due to the sugar quota and its high price, there is a huge demand for less environmentally friendly corn as a substitute in food products and for ethanol. d. ethanol should be imported rather than exported.