The term or phrase most likely to indicate a normative statement is
A. "factual." or "what is" statement.
B. "holding other things constant."
C. "should" or "ought to."
D. "ceteris paribus."
Answer: C
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Using the data in the table above, the equilibrium quantity and equilibrium price for a cellular telephone is
A) 50,000 and $100. B) 80,000 and $80. C) 60,000 and $50. D) 40,000 and $20. E) 100,000 and $20.
Implementation of the National Industrial Recovery Act (1933) positively impacted overall industrial production
Indicate whether the statement is true or false
Lorna's Lumberyard is a monopsony. Lorna estimates that at a wage of $10 per hour, 100 workers would be willing to work for her. Similarly, at a wage of $12 per hour, 200 workers would be willing to work. Her marginal labor cost is
a. $10 b. $14 c. $120 d. $140 e. $240
The worst recession since World War II started in which year?
A. 1957 B. 1973 C. 1981 D. 2007