Positive economic analysis is said to be
A) true.
B) always accurate.
C) value-laden.
D) objective.
Answer: D
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The purchase of less than 10 percent of the shares of ownership in a company in another country is known as
A) portfolio investment. B) an ineffective method for encouraging economic growth. C) foreign direct investment. D) a hostile takeover.
Diminishing marginal product means that ________
A) when adding extra units of a single input, output increases become smaller B) when adding extra units of a single input, output increases become larger C) when adding extra units of a single input, output declines D) the amount of output increases when we add more inputs E) none of the above
If a person is taxed $100 on an income of $1,000 . taxed $220 on an income of $2,000 . and taxed $390 on an income of $3,000 . this person is paying a(n):
a. progressive tax. b. poll tax. c. regressive tax. d. excise tax. e. proportional tax.
Land, water, metals, and minerals are considered to be
a. non-scarce resources because they are "gifts of nature" b. free resources because they are "gifts of nature" c. manufactured resources because no resource is useable without labor d. natural resources that are "gifts of nature" e. renewable resources that are "gifts of nature"