Is the following a positive or normative statement? The Federal Reserve should set an inflation target and employ policies to meet the target
normative
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In Figure 11.1, an increase in consumer wealth is represented by a change in the consumption function from
A) C1 to C3. B) C3 to C1. C) C2 to C1. D) C1 to C2.
If you win the lottery this would be great for you, but if everyone simultaneously won the lottery this wouldn't be nearly as good, why?
a. association is not causation b. it is a violation of ceteris paribus c. the fallacy of composition d. what appear to be positive outcomes in society are actually normative.
In the Tragedy of the Commons, joint action among the individual citizens would be necessary to solve their common resource problem unless the government intervenes
a. True b. False Indicate whether the statement is true or false
Which of the following is NOT a primary duty of the U.S. Customs and Border Protection?
A) assessing all duties, taxes, and fees on imported merchandise B) collecting import and export tariffs C) protecting the U.S. from threatening imports D) policing smuggling operations