Which of the following are TRUE regarding "positive" statements?
I. They describe what "ought to be."
II. They describe what is believed about how the world appears.
III. They can be tested as to their accuracy.
A) I and II
B) II and III
C) I and III
D) I, II and III
B
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The natural rate of unemployment is always more than the actual rate of unemployment because it excludes frictional and seasonal unemployment rates
a. True b. False Indicate whether the statement is true or false
Show, or explain, why a monopolist with positive marginal costs charges a price on the elastic range of his/her demand curve
A government is running a budget deficit if:
A. government revenue exceeds government spending. B. imports exceed exports. C. exports exceed imports. D. government revenue is less than government spending.
Which of the following skills would the study of economics help promote?
A. problem solving B. memorization C. critical thinking D. problem solving and critical thinking only