Positive statements are descriptive, while normative statements are prescriptive
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
When production reflects consumer preferences, ________ occurs
A) productive efficiency B) allocative efficiency C) equity D) efficient central planning
An increase in the price of a substitute good will shift the demand curve for a good to the right
a. True b. False Indicate whether the statement is true or false
One reason that college graduates earn higher wages than non-graduates is because college graduates:
A. acquire additional skills to allow them to work in more industries than non-graduates. B. always work in more dangerous jobs than non-graduates. C. are always more intelligent than non-graduates. D. are less equipped to deal with technological change, as their skills are technology-specific.
Dumping typically occurs as long as the foreign producer sells its output at a price
A) above its total costs. B) below its average total costs but above its average variable costs. C) below its average variable costs. D) above its average fixed costs but below its total variable costs.