Positive analysis can be described as
A) the study of whether people respond to positive incentives.
B) the study of whether people respond to negative incentives.
C) a value-free approach to inquiry.
D) a study that is not tested empirically.
C
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International trade has strong effects on income distributions. Therefore, international trade
A) will tend to hurt some groups in each trading country. B) is beneficial to everyone in both trading countries. C) will tend to hurt one trading country. D) will tend to hurt everyone in both countries. E) will be beneficial to all those engaged in international trade.
Which of the following exchange rate systems have a legislative commitment to exchange domestic currency for a specified foreign currency at a fixed exchange rate?
a. Gold standard b. Gold exchange standard c. Crawling band d. Horizontal band e. Currency board
A(n) ________ provides guaranteed benefits for those who qualify under government transfer programs such as Social Security or Medicare
a. entitlement program b. excise tax c. continuing resolution d. biennial budget
Assume that an economy experiences both positive population growth and technological progress. Once the economy has achieved balanced growth, we know that the capital stock is
A) constant. B) growing at a rate of gA. C) growing at a rate of gN. D) growing at a rate of gA + gN. E) none of the above