Which of the following would most likely tell an economist if a policy is efficient?
a. positive analysis
b. normative analysis
c. subjective analysis
d. correlation analysis
a. positive analysis
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Hank goes to a Korean restaurant for the first time and he has no prior knowledge of Korean. He orders the Daenjang Chigae prepared medium hot and hopes for the best. Here an information __________ is __________ a market outcome.
A. symmetry; affecting B. symmetry; not affecting C. asymmetry; affecting D. asymmetry; not affecting
According to the text, the price elasticity of demand for oranges has been estimated to be -0.62. This implies that a doubling of the price of oranges would cause the quantity demanded of oranges to:
A) increase by 6.2 percent. B) decrease by 6.2 percent. C) increase by 62 percent. D) decrease by 62 percent.
If taxes are reduced, will most people save more or less than before? Does national saving rise or fall? Explain
What will be an ideal response?
The French and Russian revolutions were both fought largely over ______.
a. deciding what to produce b. the distribution of goods c. the use of new production technology d. slow production processes