Whenever statements embodying values are made, we enter the realm of
A) positive economics.
B) normative economics.
C) microeconomics.
D) macroeconomics.
Answer: B
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Why do people in New York City often read the obituaries to locate an apartment?
A) They are strange. B) They find it efficient, given the alternatives. C) The landlords force them to. D) There is no other source of apartment rental information outside the obituaries.
The over hunting of U.S. buffalo that nearly caused their extinction would be an example of the tragedy of the commons
a. True b. False Indicate whether the statement is true or false
Which statement is true?
A. The federal government never intervened in our economy until the 1930s. B. Federal government intervention in our economy has grown steadily since the time of the Civil War. C. The federal government has intervened in our economy from time to time throughout our history. D. None of these statements are true.
When a firm sells products at lower prices to foreign purchasers, it is known as:
a. international dumping. b. restraint of trade. c. price gouging. d. reciprocal dumping.