Positive economics is an approach to economics that
A. analyzes outcomes of economic behavior, evaluates them as good or bad, and may prescribe preferred courses of action.
B. examines the role of government in the economy.
C. seeks to understand behavior and the operation of systems while making judgments about their usefulness to society.
D. seeks to understand behavior and the operation of systems without making judgments.
Answer: D
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The reason poor, young, unmarried women allow themselves to get pregnant is so they can get on welfare, according to conservatives like ____________.
Fill in the blank(s) with the appropriate word(s).
According to Keynes, the economy is inherently unstable and may get stuck in a recessionary gap
Indicate whether the statement is true or false
Other things the same, an increase in the price level induces less spending on a. investment and net exports
b. investment, but not net exports. c. net exports, but not investment. d. neither net exports nor investment.
A collective-action problem is a situation in which:
A. a group of people stand to gain from an action that is not rational for any of the members to undertake individually. B. people are reluctant to voluntarily pay for goods and services because they believe their individual contribution will not make a difference. C. people are often reluctant to voluntarily pay for goods and services that provide benefits for everyone, even for those who don't pay. D. a small group of individuals gains power that sways the decisions of society to their personal gain at the expense of the larger society.