Which of the following statements is positive?
A. When the Federal Reserve increases the money supply, interest rates decrease.
B. Large budget deficits should be avoided.
C. A tax cut that benefits low-income households is acceptable.
D. Higher taxes are needed to support education.
Answer: A
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The study of individual choice and its implications for the behavior of prices and quantities in individual markets is:
A. macroeconomics. B. the Scarcity Principle. C. microeconomics. D. a normative economic principle.
Import tariffs in the United States are likely to reduce U.S. exports, both because of the resulting decrease in foreign earnings of dollars from exports to the United States and because of the likelihood of increases in other countries' import restrictions against U.S. goods
a. True b. False Indicate whether the statement is true or false
Of the following high-income countries, which has the highest number of CT scanners per 1 million population?
A) Canada B) Japan C) the United Kingdom D) the United States
If marginal product is less than average product, then
A. marginal product must be decreasing. B. marginal product must be increasing. C. average product must be increasing. D. marginal product could either be increasing or decreasing.