Which type of statement - positive or negative - can be evaluated by analyzing data alone?
positive
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The Smoot-Hawley Act introduced
A) opportunities for expanding U.S. foreign trade. B) the highest tariffs set by the United States in the last 90 years. C) a framework promoting international free trade. D) revenue tariffs as a major source of U.S. government revenues.
Shifting resources away from producing one good in order to produce another is an example of
a. Unlimited resources b. Limited wants c. Opportunity cost d. None of the above
Imagine that Odyssey National is a brand new bank, and that its required reserve ratio is 10 percent. If it accepts a $1,000 deposit, then its loan balance can increase by a maximum of:
a. $0. b. $90. c. $100. d. $900. e. $910.
If the demand curve fails to capture all of the benefits of consumption, then the:
A. government needs to impose regulations that require more consumption. B. equilibrium price will be efficient but the equilibrium quantity will be inefficiently large. C. equilibrium price will be inefficiently high. D. equilibrium price will be inefficiently low.