Which of the following statements explain positive economics? (Check all that apply.)
A. It is not factual
B. The predictions are testable.
C. It can be rejected or amended depending on the evidence available.
D. It depends upon value judgements.
B. The predictions are testable.
C. It can be rejected or amended depending on the evidence available.
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The productive resource that includes all the "gifts of nature" is called
A) land. B) labor. C) capital. D) entrepreneurshi
The push toward creating more regional trade agreements necessarily harms the multilateral liberalization process that is at the heart of the WTO
What will be an ideal response?
Suppose that I rose by $50 billion with a multiplier of 6. What happened to GDP?
What will be an ideal response?
When the supply of Swiss cheese decreases while the demand for Swiss cheese increases, the equilibrium ________ of Swiss cheese will definitely ________, ceteris paribus.
A. price; increase B. price; decrease C. quantity; increase D. quantity; decrease