Positive analysis:
A. aims at determining only the economic consequences of a particular policy.
B. recommends whether a policy should be implemented.
C. determines whether the consequences of a policy are desirable.
D. depends on the analyst's values.
Answer: A
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In the above figure, the slope across the arc between points a and b equals
A) 5. B) 4. C) 2. D) 1.
Points outside the production possibilities frontier represent
a. unemployment of resources b. inefficient use of resources c. combinations that are attainable only if all resources are used fully and efficiently d. currently unattainable combinations of outputs e. the only currently attainable combinations from which society must choose
If a country pursues its comparative advantage:
A. Prices will rise throughout the world. B. Total world population will increase. C. Market power will rise throughout the world. D. Total world output will increase.
When macroeconomic policies are not coordinated,
A) macroeconomic policies will not be effective. B) expansionary policies in one country are likely to increase global imbalances. C) worldwide recessions are likely. D) low-income countries cannot grow.