A positive statement:
A. can actually be false.
B. must always be true.
C. provides an opinion with a positive outlook.
D. is the same as a normative statement.
A. can actually be false.
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In the process of reducing pollutants in our environment, we are
A) achieving a cleaner environment at no real cost. B) causing higher levels of unemployment. C) reallocating resources in an inefficient manner. D) trading off less of other goods and services for a cleaner environment.
If output is above its natural rate, then according to sticky-wage theory
a. workers and firms will strike bargains for lower wages. In response to the lower wages firms will produce less at any given price level. b. workers and firms will strike bargains for lower wages. In response to the lower wages firms will produce more at any given price level. c. workers will strike bargains for higher wages. In response to the higher wages firms will produce less at any given price level. d. workers and firms will strike bargains for higher wages. In response to the higher wages firms will produce more at any given price level.
Which of the following is not a determinant of demand?
A. The price of other goods. B. Income of the consumer. C. Desire for the good. D. The cost of the factor inputs.
The multiplier effect indicates that:
A. a decline in the interest rate will cause a proportionately larger increase in investment. B. a change in spending will change aggregate income by a larger amount. C. a change in spending will increase aggregate income by the same amount. D. an increase in total income will generate a larger change in aggregate expenditures.