Normative economics often takes a consequentialist philosophical approach to determine whether a policy is good. ?
Answer the following statement true (T) or false (F)
True
Rationale: Normative economics focuses on the consequences of a policy to determine whether the policy is "good." In other words, it focuses on outcomes, not processes.
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What leads to a decrease in the quantity demanded of a good or service?
What will be an ideal response?
The JOBS program was generously funded
Indicate whether the statement is true or false
When external scale economies exist in an industry, new trade opportunities will cause consumers
A. in the exporting country to gain but consumers in the importing country to lose. B. in both the exporting and importing countries to gain. C. in both the importing and exporting countries to lose. D. in the importing country to gain but the consumers in the exporting country to lose.
Over the past decade, a nation's real Gross Domestic Product (GDP) grew at a constant rate of 9 percent per year while its population grew 8 percent annually. Forecasters predict that during the coming decade, real GDP will continue to grow 10 percent annually, but the population growth rate is expected to drop to 7 percent annually. If the forecasters are correct, which of the following will be TRUE?
A. The annual rate of growth of per capita real GDP will increase from 1 percent to 3 percent. B. The annual rate of growth of per capita real GDP will decline from 2 percent to 1 percent. C. The annual rate of growth of per capita real GDP will increase from 1 percent to 8 percent. D. The annual rate of growth of per capita real GDP will decline from 3 percent to 2 percent.