Which of the following statements about urban sprawl and traffic congestion is the best illustration of a normative statement?
A. Traffic congestion has increased in the last 20 years.
B. Snarled traffic cost motorists in the 85 largest U.S. cities 3.5 billion hours.
C. Because urban sprawl is the result of individual choice, it is okay.
D. The average U.S. urban traveler is stuck in road traffic 46 hours a year.
Answer: C
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The following data give the dates of successive turning points in U.S. economic activity and the corresponding levels of real GDP at the time.Turning PointDateReal GDP(1996 $ billions) (A)July 19531992.2(B)May 19541941.0(C)Apr. 19572182.7(D)Apr. 19582117.4(E)Apr. 19602391.0The economy experienced a recession that lasted from:
A. July 1953 to April 1957. B. May 1954 to April 1958. C. May 1954 to April 1957. D. July 1953 to May 1954.
If ________, net exports are zero
A) imports equal transfer payments B) imports exceed exports C) exports exceed transfer payment D) exports equal imports
Consider the labor market depicted in the above figure. The competitive equilibrium would be for workers to be paid an hourly wage equal to
A) $10. B) $15. C) $20. D) None of the above answers is correct.
Fred purchases a bond, newly issued by the Big Time Corporation, for $20,000. The bond pays $1,000 to its holder at the end of the first, second, and third years and pays $21,000 upon its maturity at the end of four years. The principal amount of this bond is ________, the coupon rate is ________, and the term of this bond is ________.
A. $21,400; 5 percent; four years B. $1,000; 5 percent; four years C. $20,000; 5 percent; four years D. $20,000; $1,000; 50 percent