Normative analysis:
A. involves the formulation and testing of hypotheses.
B. is a value-free evaluation of a policy.
C. is a matter of values and opinions.
D. examines if the policy actually accomplished its goal.
C. is a matter of values and opinions.
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Southern agriculture differed markedly from agriculture in the rest of the country before the Civil War in each of these respects EXCEPT
A. it had, on the average, larger farms. B. it had slavery. C. it had different major crops. D. it had more subsistence farming.
An increase in price expectations shifts the long-run Phillips curve, but not the short-run Phillips curve
a. True b. False Indicate whether the statement is true or false
Centralizing responsibility for a firm's investments in a single person resolves problems of continuity
Indicate whether the statement is true or false
Figure 9-4
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In Figure 9-4, which expenditure level will cause an inflationary gap?
A. 1 B. 2 C. 3 D. There will be no inflationary gap.