Normative economic analysis addresses
A. what ought to happen.
B. factual issues.
C. the cause-and-effect analysis of actions and their consequences.
D. are potentially testable.
A. what ought to happen.
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In which system are decisions made by thousands of people who have information about resources, production technology and consumer desires?
A) market system B) socialist system C) centrally planned system D) command system
Buying insurance and then never making a claim:
A. means buying the insurance was a bad decision. B. does not mean buying the insurance was a bad decision. C. is a poor use of money. D. is considered by economists to be irrational behavior.
Refer to the information provided in Figure 7.2 below to answer the question(s) that follow. 
Figure 7.2Refer to Figure 7.2. The marginal product of the first worker is ________ lawns moved.
A. 3 B. 4 C. 5 D. 11
The Bank of Red Oak has $2 million in deposits and $400,000 in reserves. If excess reserves are equal to $100,000, the required reserve ratio is
A. 5%. B. 10%. C. 15%. D. 20%.