"Lower ticket prices would lead to more people attending ballgames." This statement is a
A) macroeconomic statement.
B) statement assessing the social interest versus the private interest.
C) normative statement.
D) statement that confuses marginal cost and sunk cost.
E) positive statement.
E
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The weighted average of all possible outcomes of a project, with the probabilities of the outcomes used as weights, is known as the
A) variance. B) standard deviation. C) expected value. D) coefficient of variation.
Using the expenditure approach, GDP equals:
a. C + I + G + (X ? M). b. C + I + G + (X + M). c. C + I ? G + (X ? M). d. C + I + G ? (X ? M).
An increase in a consumer's income will cause the budget line to:
A. shift outward. B. shift inward. C. become steeper. D. become flatter.
Pender Pet Products is considered an opportunistic importer because the firm seeks products around the world that it can import and sell profitably to domestic consumers.
a. true b. false