When Mr. Peabody decides on the companies to which he will donate his time and money, a ________ issue is being addressed
A) microeconomic
B) macroeconomic
C) positive economic
D) normative economic
Answer: A
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If the marginal value of a third soda is $1.50 to Jackie, then
a. Jackie would be willing to pay no more than $4.50 for three sodas. b. Jackie places a total value of less than $4.50 on three sodas. c. Jackie would pay no more than $1.50 for an additional soda when she has already consumed 2 sodas. d. Jackie would pay no more than $1.50 for any soda.
The Coase theorem asserts that under certain conditions, the property rights to an activity will be acquired by the party that values it most
Indicate whether the statement is true or false
International trade is advantageous because trade makes it possible for people in each country to
a. import more than they export. b. export more than they import. c. employ more of their domestic resources producing things that are costly for them to produce domestically. d. acquire goods from foreigners more economically than they could be produced domestically. e. do all of the above.
What is the difference between a normal good and an inferior good? How does this relate to the demand curve?
What will be an ideal response?