Economists disagree about many things. When those disagreements are about which model best explains the economy, these disagreements are primarily over "positive" statements
a. True
b. False
A
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A noisy party that keeps neighbors awake is an example of a
A) negative production externality. B) positive production externality. C) negative consumption externality. D) positive consumption externality. E) Both answers B and C are correct.
Which of the following is most necessary for a monopolist to survive in the long run?
A) a legal protection from entry B) a perfect product C) a brilliant Chief Operating Officer D) an excellent marketing campaign
A decrease in marginal tax rates will cause entrepreneurship to ________ and AS to shift to the ________.
A. decrease; right B. increase; left C. decrease; left D. increase; right
Most economists believe that fiscal policy is:
A. Better than monetary policy for "fine-tuning" the economy B. Better than monetary policy for month-to-month stabilization C. Not as good as monetary policy for month-to-month stabilization D. Not very good at pushing the economy in a particular direction