Is the following a positive or normative statement? The federal minimum wage is lower than many state minimum wages
positive
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Imports into the U.S. increased when
(a) deflation in the U.S. occurred. (b) real wages and incomes rose in the U.S. (c) the International Trade Commission was established. (d) all of the above occurred.
As firms' expected profit from new capital projects falls,
A) the supply of loanable funds will shift rightward. B) the supply of loanable funds will shift leftward. C) the demand for loanable funds will shift rightward. D) the demand for loanable funds will shift leftward. E) projects must become more profitable
Compounding:
A. is beneficial to savers, but costly to borrowers. B. is beneficial to borrowers, but costly to savers. C. is beneficial to borrowers and savers alike. D. is costly to both borrowers and savers.
If Q = K2L2 the MPK is
a. constant b. diminishing c. increasing