One thing that distinguishes normative economic principles from positive economic principles is that:
A. normative principles tell us how people will behave, and positive principles tell us how people should behave.
B. normative principles are pessimistic and positive principles are optimistic.
C. normative principles tell us how people should behave, and positive principles tell us how people will behave.
D. normative principles reflect social norms, and positive principles reflect universal truths.
Answer: C
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Which of the following explains why many European countries have unemployment rates that are higher than in the United States?
A) Technological change occurs at a faster rate in Europe, so structural unemployment is higher in Europe. B) European countries offer higher unemployment benefits than the United States. C) The minimum wage in Europe is lower than it is in the United States. D) Firms in European countries offer employees higher wages and higher benefits than do firms in the United States.
Describe the policies that would be associated with Import Substitution Industrialization. What are the primary criticisms of these policies?
What will be an ideal response?
Typical structure characteristics of interest to Industrial Organization researchers include
a. Barriers to entry b. Product differentiation among firms c. The number and size distribution of firms d. All of the above
Refer to the short-run information provided in Figure 8.5 below to answer the question(s) that follow. 
Figure 8.5 Refer to Figure 8.5. If one drone is produced, average variable costs are
A. $25. B. $30. C. $40. D. indeterminate from this information.