Which of the following is an example of a voucher?
A) the postal service
B) police services
C) social security
D) food stamps
E) a patent on a pharmaceutical drug
D
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One thing that distinguishes normative economic principles from positive economic principles is that:
A. normative principles are pessimistic and positive principles are optimistic. B. normative principles tell us how people should behave, and positive principles tell us how people will behave. C. normative principles tell us how people will behave, and positive principles tell us how people should behave. D. normative principles reflect social norms, and positive principles reflect universal truths.
The table below shows the cyclically adjusted budget surplus as a percentage of GDP over a five-year period.YearSurplus(+)11.0%20.930.540.251.5Refer to the above information. In which year was fiscal policy contractionary?
A. Year 5 B. Year 4 C. Year 3 D. Year 2
Define productive efficiency. Does productive efficiency imply allocative efficiency? Explain
What will be an ideal response?
Refer to the information provided in Figure 9.3 below to answer the question(s) that follow. 
Figure 9.3Refer to Figure 9.3. This firm will earn a zero economic profit if price is
A. $0. B. $4. C. $7. D. $13.