Many disagreements with economists result because
A. economists deal with only positive economics.
B. economists sometimes make normative judgments.
C. economics is a social science.
D. economics deals so much with theories and models.
Ans: B. economists sometimes make normative judgments.
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Factors that can cause the supply curve for bonds to shift to the right include
A) an expansion in overall economic activity. B) a decrease in expected inflation. C) a decrease in government deficits. D) a business cycle recession.
Suppose Johnny Stroller sells 12, 25, and 75 year-old scotch in under black, red, and blue labels. Suppose the storage costs are zero and the initial production costs are the same. What is the implied (approximate) interest rate if black sells for $18, red for $34 and blue for $388
a. 2 b. 5 c. 8 d. 10
A graph illustrating the relationship between the quantity of money demanded and the interest rate would have a slope that is:
a. positive. b. negative. c. horizontal. d. vertical.
Which of the following is an example of a transfer payment?
a. wages paid to military personnel
b. benefits paid to Social Security recipients
c. purchase of aircraft by the Department of Defense
d. payments made to a contractor for construction of a highway