"The government should provide health care for all citizens." This statement is an illustration of:
A. positive economic analysis.
B. correlation analysis.
C. fallacy of association analysis.
D. normative economic analysis.
Answer: D
You might also like to view...
How does the sample size affect the validity of an empirical argument? When is it acceptable to use only one example to disprove a statement?
What will be an ideal response?
The long-run equilibrium of a monopolistic competitor differs from the long-run equilibrium of a perfect competitor in that
A) the monopolistic competitor makes economic profits. B) the monopolistic competitor sets price equal to marginal cost. C) the monopolistic competitor produces at the minimum point of its average total cost curve. D) the monopolistic competitor charges a price that exceeds marginal cost.
Stable money and prices are a key source of economic growth because
What will be an ideal response?
The production possibilities curve shows:
A. the maximum amount of one good that can be produced for every possible production level of the other good. B. how increasing the resources used to produce one good increases the production of the other good. C. how increasing the production of one good allows production of the other good to also rise. D. the minimum amount of one good that can be produced for every possible production level of the other good.