In all cases, positive economics deals with
A) what is.
B) what should be.
C) relatively small units in the economy.
D) aggregates or the entire economy.
A
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When Americans or foreigners expect the return on ________ assets to be high relative to the return on ________ assets, there is a higher demand for dollar assets and a correspondingly lower demand for foreign assets
A) dollar; dollar B) dollar; foreign C) foreign; dollar D) foreign; foreign
The above figure shows the payoff matrix for two firms, A and B, selecting an advertising budget. The firms must choose between a high advertising budget and a low advertising budget. Firm A's dominant strategy
A) does not exist. B) is to do the opposite of firm B. C) is to select a high advertising budget. D) is to select a low advertising budget.
Explain why broadcasting television over the air is considered a public good. Why is cable TV not a public good?
A key assumption of most economic analysis is that people act rationally, meaning they respond to incentives.
Answer the following statement true (T) or false (F)