Which of the following is NOT a normative statement?
A) People buy more of a good or service when its price falls.
B) The distribution of income is fair.
C) The government ought to provide health care to everyone.
D) Corporations should be more socially responsible.
A
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The above figure shows the U.S. market for chocolate. With international trade, ________ is the transfer of surplus from producers to consumers
A) area B +area C + area D B) area B C) area C + area D D) area A E) area E
How do capital markets fit the general tendency toward ‘globalization'?
What will be an ideal response?
Specialization: a. leads to greater self-sufficiency
b. can lead to an increase in overall production. c. is always the result of an inefficient use of resources. d. helps workers to develop skills by working on a large number of tasks.
In the long-run...
What will be an ideal response?