Positive economics is a(n):
a. reflection of a country's values.
b. judgment of the correctness of an economic outcome.
c. statement of fact.
d. analysis of what ought to be.
e. analysis of all the good market outcomes.
c
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The textbook asserts that banks create money themselves. How?
A) Banks have their own printing presses, which is permitted by the Fed. B) Banks are allowed to reach well into their required reserves as long as they can demonstrate that it would be profitable to do so. C) Banks, when lending out their excess reserves, unleash a process that can increase the money supply through the deposit expansion multiplier. D) For all of the above reasons.
For a natural monopoly, the marginal cost of producing an additional unit of its product is relatively small
Indicate whether the statement is true or false
What are the two main components of business cycle theories?
A) A description of shocks and a model of how the economy responds to them B) A model of how people decide to spend and a description of the government's role in the economy C) A model of how equilibrium is reached and a description of the government's role in the economy D) A description of shocks and a description of the government's role in the economy
How does adverse selection affect the economic efficiency of the used car market?
What will be an ideal response?