Matt observes that "there is a high correlation between educational attainment and the level of income." Jean concurs and adds that "high school graduates should all proceed to college."
A. Both Matt's and Jean's statements are positive
B. Both Matt's and Jean's statements are normative
C. Matt's statement is normative while Jean's statement is positive
D. Matt's statement is positive while Jean's statement is normative
Answer: D
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Refer to the figure below.________ inflation will eventually move the economy pictured in the diagram from short-run equilibrium at point ________ to long-run equilibrium at point ________. 
A. Rising; A B. Falling; A; C C. Falling; B: C D. Rising; A; C
When playing a game in which players are in direct competition with one another, it is best to ________ a pure strategy because the strategy is ________
A) use; predictable B) use; unpredictable C) avoid; predictable D) avoid; unpredictable
According to Chandler (1977), the major event in business development in 1895–1904 was
(a) the Granger cases. (b) Munn v Illinois (1877). (c) the rise of vertically integrated firms. (d) the merger wave.
In January, 2,500 quarts of ice cream are sold in Boston at $2 per quart. In February, 3,000 quarts are sold at $2.50 a quart. This change in the price and quantity sold of ice cream may have been caused by: a. a reduction in wages in the Boston area
b. the introduction of labor-saving, automated ice cream packing machinery. c. the release of a medical study showing that ice cream consumption improves mental health. d. the decision by Boston ice cream sellers to eliminate discount coupons.