A positive statement:
A. can actually be false.
B. provides an opinion with a positive outlook.
C. is the same as a normative statement.
D. must always be true.
Answer: A
Economics
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Refer to Table 11.1. If the marginal propensity to import increases to 0.5 (mpi = 0.5), what is the new equilibrium level of output?
A) 568.00 B) 760.00 C) 946.67 D) 1,266.67
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If the Federal Reserve conducts an open market purchase, the
A) interest rate will not change. B) interest rate will increase. C) money supply is decreased. D) interest rate will decrease.
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Refer to Table 19-18. What is the GDP deflator in 2011 if 2016 is the base year?
A) 187 B) 87 C) 8.7 D) 0.87
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In the above figure, over the price range P1P2, demand is
A) unit elastic. B) elastic. C) inelastic. D) perfectly elastic.
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