Refer to the given data. If disposable income was $325, we would expect consumption to be:
A. $315.
B. $305.
C. $20.
D. $290.
B. $305.
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Positive economics answers the question, "What ought to be?" Normative economics predicts the consequences of alternative actions, answering the questions, "What is?" or "What will be?"
Indicate whether the statement is true or false
When poor families are compared to nonpoor families of the same ethnic background, significant cultural differences appear
Indicate whether the statement is true or false
The concurrent problems of inflation and unemployment are termed:
a. depression. b. downturn. c. deflation. d. demand-pull inflation. e. stagflation.
This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.
According to the graph shown, if the economy decides to impose a tariff, the government can expect to raise how much in government revenues?
A. $37,500. B. $19,500. C. $27,000. D. $34,500.