Which would be a positive economic statement?
a. Government should provide free housing shelter for the homeless
b. Stock prices rose to a new record last month for the fourth month in a row
c. The minimum wage should be increased to give people a decent wage
d. Americans should buy American products to boost the national economy
Ans: b. Stock prices rose to a new record last month for the fourth month in a row
You might also like to view...
Suppose an investor equally allocates their wealth between a risk-free asset and a risky asset. If the MRS of the current allocation is less than the slope of the budget line, then the investor should:
A) shift more of their wealth to the risky asset. B) shift more of their wealth to the risk-free asset. C) keep the same asset allocation. D) We do not have enough information to answer this question.
The theory of the kinked demand curve is used to explain
a. bizarre corporate behavior. b. sales maximization. c. the maximin criterion. d. sticky prices in oligopolies.
How much is the output gap if short-run output is $21.0 trillion and potential output is $20.0 trillion?
What will be an ideal response?
Who is associated with the following summary of the economic way of thinking: "The theory of economics does not furnish a body of settled conclusions immediately acceptable to policy. It is a method rather than a doctrine, an apparatus of the mind, a technique of thinking which helps its processer draw correct conclusions."
A. John Maynard Keynes B. Alfred Marshall C. Adam Smith D. President Harry Truman