Normative statements are statements about
A) prices.
B) quantities.
C) what is.
D) what ought to be.
D
You might also like to view...
Refer to Figure 24-1. Ceteris paribus, a decrease in government spending would be represented by a movement from
A) AD1 to AD2. B) AD2 to AD1. C) point A to point B. D) point B to point A.
If a firm's long-run average cost curve is rising, it is experiencing:
a. a constant return to scale. b. economies of scale. c. diseconomies of scale. d. none of these.
Refer to the information provided in Figure 23.2 below to answer the question(s) that follow.
Figure 23.2Refer to Figure 23.2. An increase in Jerry's income is represented by
A. a movement from Point B to A. B. an increase in the slope of Jerry's consumption function. C. an upward shift in Jerry's consumption function. D. none of the above.
If the MPC is 0.75 and the MPM is 0.2, the open economy multiplier is 4.
Answer the following statement true (T) or false (F)