Which of the following is a normative statement?
a. Fifteen percent of Americans go without health insurance in a year.
b. The Consumer Price Index rose three-tenths of one percent in May.
c. An increase in the minimum wage will increase teenage unemployment.
d. Americans would be better served by single-payer health care system.
e. The French trade deficit reached an all-time high last year.
D
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According to Nobel laureate Ronald Coase, firms exist in order to
A) maximize transactions costs. B) minimize transactions costs. C) maximize transactions. D) employ workers.
Angelica wants to open a restaurant and is thinking of setting it up as a corporation. What are the advantages and disadvantages she will face by setting up the business as a corporation as opposed to a sole proprietorship or a partnership?
What will be an ideal response?
Specifically, what might cause the quantity demanded of a particular good to double at a particular price?
What will be an ideal response?
Because money __________________, people are _________________ likely to specialize in their work in a money economy
A) is a store of value; less B) eliminates the double coincidence of wants; more C) is a unit of account; more D) eliminates the need for holdings of precious metals; more