Positive economics:
a. will usually tell us which policy is best.
b. reveals "what ought to be" in economic matters.
c. is of little use to policy makers.
d. is the scientific study of "what is" among economic relationships.
d
You might also like to view...
The present value of net benefits (PVNB) is
a. found as (PVB – PVC) b. equal to the ratio of PVB to PVC c. equal to the ratio of PVC to PVB d. not relevant to benefit-cost analysis
China imports ___________ from the U.S. compared to how many goods the U.S. imports from China.
A. less B. more C. about the same D. practically nothing
If the marginal propensity to consume is 0.8, what is the value of the expenditure multiplier?
a. 0.2 b. 0.8 c. 1.25 d. 5.0 e. 8.0
Subsidies are most likely to:
A. increase total economic surplus. B. reduce consumer surplus. C. reduce total economic surplus. D. leave total economic surplus unchanged, but transfer surplus from producers to consumers.