Which of the following is most closely associated with positive economics?
a. determining the impact of government spending on the actual level of total employment
b. determining the best level of immigration into the country
c. determining whether too many luxury goods are being produced
d. determining whether the government should reduce poverty
e. determining whether the government should alter income taxes in order to increase total employment
A
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All else constant, an increase in the number of buyers in the market for cell phone service would cause:
A) equilibrium price and quantity to increase. B) equilibrium price and quantity to decrease. C) equilibrium price to increase and equilibrium quantity to decrease. D) equilibrium price to decrease and equilibrium quantity to increase.
Robert lost his job during the last recession and his yearly income fell by 15 percent. As a result of the action of automatic stabilizers, his disposable income would likely have fallen by less than 15 percent
a. True b. False Indicate whether the statement is true or false
Gross domestic product for 2000 tries to measure the market value of all final goods and services produced in 2000 . But not everything produced in the economy gets onto the market
Indicate whether the statement is true or false
The growth records of Japan and Hong Kong during the last fifty years indicate that an economy can grow rapidly without
a. securely defined property rights. b. abundant domestic natural resources. c. significant capital formation. d. adopting modern technology.