The statement, "Violent crime has decreased in the last five years," is:
A. obviously wrong and, therefore, cannot be a positive statement.
B. normative since it can be answered by simply looking at the facts.
C. positive because it is testable.
D. not very interesting because all normative issues are of little importance.
Answer: C
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A price-discriminating monopolist having identical costs in two markets should charge a higher price in that market
a. which has a higher demand. b. which has a more elastic demand. c. which has a less elastic demand. d. which has a higher marginal revenue.
"The higher the price of a good or service, the greater the quantity that people are willing to sell" is
A. the law of demand. B. the law of supply. C. neither the law of demand or the law of supply.
Suppose that inventory investment is $20 billion and (total) investment is $680 billion. What does purchases of newly produced capital goods equal?
A) $715 billion B) $785 billion C) $750 billion D) $35 billion E) There is not enough information to answer this question.
Refer to the data provided in Table 10.2 below to answer the following question(s).
Table 10.2 
Refer to Table 10.2. Marginal revenue product of the ________ worker is $250.
A. second B. third C. fourth D. fifth