The headline in the local paper today is "College tuition next fall will be raised by 3 percent." This statement is an example of
A) a normative statement.
B) a positive statement.
C) a macroeconomic statement.
D) ceteris paribus.
Answer: B) a positive statement.
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If each case of detergent were sold at $30, determine the amount of the shortage or surplus that would result.
Consider the market for a Procter and Gamble biodegradable detergent. Suppose that market demand is QD = 120 – 3P, and market supply is QS = –50 + 2P, where P is the price per case and Q is the quantity in thousands per week.
According to the liquidity premium theory of the term structure, a flat yield curve indicates that short-term interest rates are expected to
A) rise in the future. B) remain unchanged in the future. C) decline moderately in the future. D) decline sharply in the future.
To gain market share
A) a firm needs to be in a competitive market. B) a firm needs to limit substitutes. C) a firm needs to produce a commodity. D) a firm needs to be a substitute for other products
About one out of every _________ Hispanics is poor.
Fill in the blank(s) with the appropriate word(s).