Positive economic analysis is said to be
A. always accurate.
B. objective.
C. true.
D. value-laden.
Answer: B
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Based on the table "Real and Nominal GDP," if year one is the base year, then the GDP deflator for year three is ________
A) 165 B) 139.8 C) 85.8 D) 133.6 E) 114.6
Refer to the normal-form game of advertising shown below.Firm AFirm B??AdvertiseDo Not Advertise?Advertise$0,$0$175,$10?Do Not Advertise$10,$175$125,$125Suppose there is a 20 percent chance that the advertising game depicted in Figure 10-17 will end next period. The collusive agreement {(not advertise, not advertise)} is:
A. unsustainable since $10 > $50. B. sustainable since $10 > $50. C. sustainable since $175 < $625. D. unsustainable since $175 < $625.
Foreign residents can benefit from U.S. research and development activity because
A. they can import the goods, obtaining inputs at lower cost than they would otherwise. B. countries usually share patented ideas. C. they ignore U.S. patent laws and steal the technology. D. patents do a poor job of protecting the inventor.
If, ceteris paribus, demand in a perfectly competitive industry increases, the market price for the product will also increase.
Answer the following statement true (T) or false (F)