Which of the following is an example of a positive economic statement?
a. The minimum wage should be raised to help low-income workers
b. The size of the Federal government should be reduced
c. Education and income are highly correlated
d. Nigeria should be given more foreign aid to foster economic development
c. Education and income are highly correlated
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Why don't people take into consideration the external costs of their actions and reduce the amount of externalities?
What will be an ideal response?
Figure 33-7
?
In Figure 33-7, the case for restrictive monetary and fiscal policy is strongest at point
A. A. B. B. C. C. D. D.
Gary buys a house for $200,000 using $10,000 of his own money and gets a mortgage for the remaining $190,000 . If the value of the house increases 7%, what will be the percentage increase in Gary's investment?
a. 25% b. 7% c. 14% d. 70% e. 140%
Using only marginal revenue and marginal cost, we can determine whether a firm is incurring a profit or a loss
a. True b. False Indicate whether the statement is true or false