Evaluating normative statements involves values as well as facts

a. True
b. False
Indicate whether the statement is true or false


True

Economics

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Refer to Figure 16-10. In the graph above, suppose the economy in Year 1 is at point A and is expected in Year 2 to be at point B. Which of the following policies could Congress and the president use to move the economy to point C?

A) buy Treasury bills B) increase government spending C) increase income taxes D) decrease the discount rate

Economics

Which of the following would cause an increase in the supply of peanut butter?

A) a decrease in the price of grape jelly (assuming that peanut butter and grape jelly are complements) B) an increase in the price of peanut butter C) an increase in the number of firms that produce peanut butter D) an increase the price of a product that producers sell instead of peanut butter

Economics

Under George W. Bush's administration, antitrust policy:

a. became much more strict. b. prohibited every merger attempts. c. focused increasingly on environmental concerns. d. became more relaxed. e. ignored financial regulation and corporate scandals.

Economics

According to the Laffer curve

A. an increase in tax rates will have an inconsistent effect on tax revenues. B. a decrease in tax rates will always increases tax revenues. C. an increase in tax rates will always increase tax revenues. D. a decrease in tax rates will always decrease tax revenues.

Economics