"Unemployment increased in the last month to its highest level in the past ten years." This quote would be an example of:
a. A normative economic statement
b. A positive economic statement
c. The fallacy of composition
d. Post hoc, ergo propter hoc fallacy
Answer: b. A positive economic statement
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The majority of the elderly can live comfortably on the assets they have accumulated
Indicate whether the statement is true or false
Which of the following statements is not consistent with the "environmental explanation" of wage and productivity?
a. "Women are more likely than men to leave the labor force to care for children and hence acquire less work experience than do men." b. "Blacks and other minorities do not receive, on average, the same quality of education as whites." c. "Boys are more likely than girls to receive moral and financial support from their families to attend college." d. "Employers discriminate systematically against blacks and women."
When market activity generates a negative externality, the level of output in the market equilibrium is lower than the socially optimal level
a. True b. False Indicate whether the statement is true or false
Investment spending will increase when
What will be an ideal response?