All of the following are examples of normative statements EXCEPT:
A. Output per person typically grows more slowly than output per worker.
B. Low unemployment is more desirable than low inflation.
C. Output per person should increase at an average annual rate of 5 percent.
D. High rates of economic growth are preferable to low rates.
Answer: A
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Which of the following statements is true?
A) Optimization in levels is based on behavioral analysis. B) Optimization in differences is based on marginal analysis. C) Optimization in differences is often faster than optimization in levels, as it considers all aspects of the feasible alternatives. D) Optimization in levels is often slower to implement than optimization in differences, as it considers only the aspects in which alternatives differ.
Refer to the Article Summary. In 2015, the European Union initiated the BRRD program, where the burden of bailing out troubled banks is being placed on bank creditors, shareholders, and possibly depositors
If this program were to confiscate funds from bank deposits to assist troubled banks, the possibility of a bank run, a situation in which ________, would likely increase. A) a majority of the shareholders in a bank decide to sell off all their shares of stock. B) many depositors simultaneously decide to withdraw money from a bank. C) a bank stops paying interest on all of its interest-bearing accounts. D) a majority of the bank's loans go into default all at once.
Steve is finding it impossible to get over his most recent break-up and finds himself talking about her constantly. An example of a commitment device that Steve could use to get over her would be:
A. to allow Steve's best friend to punch him in the arm any time he mentions her name. B. to take a cold shower every morning. C. to start dating someone else. D. None of these is a commitment device.
The percent of receipts from sales taxes and property taxes for state and local governments are ________ and ________ respectively.
Fill in the blank(s) with the appropriate word(s)