Which of the following is an example of positive statement?
A. The state government should allocate more funds toward education.
B. Teachers should be paid higher salaries.
C. Individuals with a bachelor's degree earn higher average incomes than those with only a high school diploma.
D. The consumption of marijuana is unacceptable and should never be legally allowed in a society.
C. Individuals with a bachelor's degree earn higher average incomes than those with only a high school diploma.
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Refer to the above figure. Suppose that the economy starts at AD1. If the government reduces taxes, then the economy goes to AD2, but then falls back to AD3. This is an example of
A) complete crowding-out effect. B) partial crowding-out effect. C) Ricardian equivalence. D) laissez-faire.
The economy is considered to be at full employment when:
a. the actual rate of unemployment is less than the natural rate. b. the leading economic indicators are unchanged for two consecutive quarters. c. structural unemployment is zero. d. frictional plus structural unemployment is less than the natural rate. e. the rate of cyclical unemployment is zero.
Where would you find a voluntary muscle?
A. Attached to the femur B. In blood vessel walls C. Inside the heart D. Lining the stomach
Which of the following statements correctly characterizes nationalization in the U.S.?
A. The U.S. does not ever follow a policy of nationalization because that would run counter to our capitalist economy. B. The U.S. has a history of nationalization, much of which was temporary. C. The U.S. has mostly nationalized industries, including Amtrak and the United States Postal Service. D. In times of crisis, the U.S. government has nationalized certain industries and those industries have remained permanently nationalized for the protection of the workers and consumers.