Which of the following is a normative statement?
A. The taxes paid by the poor should be reduced in order to improve the income distribution in the U.S.
B Presidential candidates should not be given funds from the federal government to run campaigns.
c. State governments should not subsidize corporations by training welfare recipients.
D. The sea otter should not be allowed to spread into Southern California coastal waters, because it will reduce the value of fisheries.
E. all of the above
E. all of the above
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The price of a gallon of gasoline increased from $2.00 to $2.25 while the price of a ride on the city bus increased from 50 cents to 75 cents. The relative price of riding the city bus
A) increased from 0.25 to 0.6. B) decreased from 4.0 to 3.0. C) stayed constant at 0.25. D) stayed constant at 4.0.
Which of the following events would bring about a change in the value of the marginal product of labor?
a. technological progress that alters the amount a worker can produce b. a change in the marginal product of labor c. a change in the price of the product that the firm sells d. All of the above are correct.
Economic growth can be defined as:
a. An increasing rate of savings b. Increasing in government surplus c. Increasing Real GDP per person d. Increasing Nominal GDP
Refer Exhibit 2-10. Person A has the comparative advantage in the production of _____________ and person B has the comparative advantage in the production of __________________.
 ANSWER 11.png)
Fill in the blank(s) with the appropriate word(s).