Which of the following is not a type of economic analysis?
a. None of these choices is a type of economic analysis.
b. Normative
c. Resources
d. Positive
c
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Refer to Figure 26-12. In the dynamic AD-AS model, the economy is at point A in year 1 and is expected to go to point B in year 2, and the Federal Reserve pursues policy. This will result in
A) real GDP levels higher than what would occur if no policy had been pursued. B) inflation rates higher than what would occur if no policy had been pursued. C) potential real GDP levels lower than what would occur if no policy had been pursued. D) unemployment rates higher than what would occur if no policy had been pursued.
In an economic model, an endogenous variable is
A) a stand-in for more complicated variables. B) determined by the model itself. C) determined outside the model. D) a variable that has no effect on the workings of the model.
You are the manager of a restaurant you believe one of your suppliers is engaged in cartel activity. As the manager, you ________ an incentive to report the behavior because your restaurant can ________.
A) do not have; have to pay whistle-blower fees B) do not have; receive treble damages C) have; have to pay whistle -blower fees D) have; receive treble damages
In the linear breakeven model, the breakeven sales volume (in dollars) can be found by multiplying the breakeven sales volume (in units) by:
a. one minus the variable cost ratio b. contribution margin per unit c. selling price per unit d. standard deviation of unit sales e. none of the above