"If event X occurs then event Y will follow" is a
A) positive statement.
B) normative statement.
C) non-testable statement.
D) statement lacking in logic.
Answer: A
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In the above figure, the movement from point a to point b reflects
A) a decrease in the price of pizza. B) an increase in the demand for pizza. C) an increase in the number of people who eat pizza. D) an increase in the price of the tomato sauce used to produce pizza. E) a decrease in the number of firms producing pizza.
The case of New Zealand, described in the text, is concerned with the country's
A) prospects for long term growth. B) ability to sustain current account deficits. C) unproductive industrial sector and its prospects for long run growth. D) labor productivity. E) exchange rate volatility relative to other currencies.
In a game of bargaining, those who ________ will likely get the highest payoff.
A. are patient B. are cooperative C. collude D. have a commitment strategy
Some, but not all, government economists are employed within the administrative branch of government. Which of the following government agencies employs economists outside of the administrative branch?
a. the Department of Labor b. the Department of the Treasury c. the Congressional Budget Office d. the Council of Economic Advisers