Which of the following statements about positive economic analysis is true?
A) There is much less disagreement among economists over normative economic analysis than over positive economic analysis.
B) Positive analysis uses an economic model to estimate the costs and benefits of different course of actions.
C) Unlike positive economic analysis, normative economic analysis can be tested.
D) There is much more disagreement among economists over positive economic analysis than over normative economic analysis.
B
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Hong Kong has imports of $1,130 billion and exports of $1,255 billion. Hong Kong definitely has ________
A) negative net exports of $125 billion B) positive net exports of $125 billion C) a government budget surplus D) Both answers B and C are correct.
Which of the following is not a consequence of the Fed changing the reserve requirement?
A) Changes in the ratio are easily incorporated into banks' routine management. B) Changes in the ratio effectively places a tax on banks' deposit taking and lending activities. C) Decreasing the ratio will increase excess reserves. D) Increasing the ratio will decrease the amount of reserves banks have to loan.
The single most important contributor to China's economic growth has been ________
A) government-directed credit to key economic sectors B) strong demand for China's exports C) rapid improvements in worker productivity D) a substantial increase in the utilization of labor and capital inputs
Which of the following will cause a movement from one point on an AD curve to another point on the same AD curve?
A) a change in consumption B) a change in government expenditures C) a change in net exports D) a change in the price level E) all of the above