The current rate of unemployment is 5 percent. This statement:
A) is positive.
B) is normative.
C) involves a value judgment.
D) is a personal reflection and has no value in economics.
Ans: A) is positive.
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Use the following consumption schedule to answer the next question. 
At income level 3, the amount of consumption is represented by the line segment
A. GH. B. FD. C. FG. D. FH.
Risk aversion implies that
A) individuals will not take on risk. B) investors must be compensated for about half of the risk they take on. C) investors must be compensated for the risk they take on. D) None of the above.
A supply curve;
(a) Shifts to the right when price increases. (b) Shifts to the right when an input price (e.g. wages) decreases. (c) Never shifts but slopes downwards because firms can sell more products when prices fall. (d) Both (a) and (b) are true.
The value-added approach to measuring GDP involves adding up the value of the
a. sales revenues of firms b. payments for the intermediate goods used by all firms c. the wages of the workers used to produce goods d. sales of all firms, minus all their purchases of intermediate goods e. values of final goods minus the value of all services