Normative economics
A) is never studied at the undergraduate level.
B) involves value judgments.
C) is always objective.
D) cannot be applied to all economic problems.
Answer: B
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Refer to above figure. Why would workers not shift from agriculture to manufacturing in the initial situation where wages are higher in the latter?
What will be an ideal response?
The reserve demand schedule is drawn on a graph that has the quantity of reserves on the horizontal axis and
a. the price level is on the vertical axis. b. the federal funds rate is on the vertical axis. c. the price of bonds is on the vertical axis. d. income is on the vertical axis.
Which tax rate will provide the government with the maximum revenue?
A. F
B. G
C. H
D. I
The Millennium Development Goals adopted by the United Nations included environmental criteria.
Answer the following statement true (T) or false (F)