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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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?
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
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.
Specifically, what might cause the quantity demanded of a particular good to double at a particular price?
What will be an ideal response?