What type of economic analysis is limited to testable, verifiable statements?
a. Macroeconomics. b. Entrepreneurial economics.
c. Positive economics. d. Normative economics.
c
Economics
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Describe the major costs of inflation, being sure to distinguish between anticipated and unanticipated inflation
What will be an ideal response?
Economics
Commodity products are
a. pasteurized b. bland c. perceived by consumers to be identical d. made by one manufacturer e. made by hand
Economics
A regulatory agency that requires a firm to provide “universal service” must
A. prevent high profits in all markets. B. allow the firm to cross-subsidize. C. prevent cross-subsidization. D. guarantee marginal cost pricing.
Economics
M1 money includes all but which one of the following?
a. Savings accounts b. Paper money c. Coins d. Checkable deposits
Economics