A normative economic statement is
a. a statement of fact
b. a statement of opinion which advocates a particular position
c. not acceptable in the economics profession
d. the only acceptable manner to present economic information
e. a statement based upon government-supplied information
B
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Why should people without children pay some tax to support local schools?
What will be an ideal response?
Refer to the payoff matrix below. If Camp R Us announces that it will offer special financing, Happy Campers ________ believe Camp R Us as their incentives ________ align.
Camp with Us and Happy Campers compete in the market for campers. Each firm must decide each season if they are going to offer special financing or not. The above payoff matrix shows each firm's net economic profit at each pair of strategies.
A) should; do not B) should; do
C) should not; do D) should not; do not
When the value of operating authority fell to zero after trucking deregulation, that was a sign that deregulation would not work well
Indicate whether the statement is true or false
The dramatic increase in the standard of living since the Industrial Revolution
A. means that societies and individuals face no constraints. B. has not meant unlimited abundance for societies or persons. C. means that “opportunity cost” is a meaningless concept. D. has reduced the choices open to persons. E. has made economics less useful to persons.