"No individual should have less than $20,000 income in the United States in 2017" is an example of
A) a normative statement.
B) a positive statement.
C) an illogical and refutable statement.
D) a truism.
Answer: A
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In the product market
A) businesses trade goods and services for resources. B) consumers trade monetary payments for goods and services. C) consumers trade goods and services for resources. D) consumers trade resources for goods and services.
The German central bank in the European Monetary System, 1979-1998
A) was very inflation-averse. B) was moderately inflation-averse. C) was willing to accept inflation. D) lacked control over inflation since it had fixed its exchange rate. E) lacked sufficient reserves.
According to supply-side theory, which of the following would shift the aggregate supply curve leftward?
A. Lower marginal tax rates. B. Government deregulation. C. A higher minimum wage. D. Elimination of structural bottlenecks.
Which policy is likely to be the most efficient in dealing with automobile emission pollution?
A. Subsidizing research and development for alternative forms of transportation B. Voluntary emission control guidelines C. A mandatory requirement to reduce pollution D. An emission tax