Which of the following is a normative economic statement?
A) Rising global demand for coal has led to increases in the price of coal.
B) With rising mortgage rates and rising unemployment rates, the number of unsold homes has increased.
C) The state of Texas is considering increasing funds for light-rail development to promote the use of public transportation.
D) Pharmaceutical manufacturers should not be allowed to patent their products so prescription drugs would be more affordable.
Answer: D
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A movie at the movie theater is an example of a good that is
a. both non-rival and non-excludable b. both rival and excludable c. rival but non-excludable d. non-rival but excludable e. rival but whose consumption creates negative externalities
A mixed economy blends private and public elements
a. True b. False Indicate whether the statement is true or false
The 12 regional Fed banks do all of the following except:
A. Clear checks between private banks. B. Lend money to individuals. C. Provide currency to banks. D. Hold bank reserves.
The historical reallocation of labor from agriculture to manufacturing in the United States has:
A. been inflationary. B. had no effect on the average productivity of labor. C. increased the average productivity of labor. D. reduced the average productivity of