A U.S. senator states: "The minimum wage should be raised to give people a decent living wage." This quote is an example of:
a. A positive economic statement
b. A hypothesis
c. The fallacy of composition
d. A normative economic statement
d. A normative economic statement
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In November 2008, the Fed began its first round of quantitative easing. In total, the Fed conducted ________ rounds of quantitative easing before ending the program in October 2014
A) 2 B) 3 C) 4 D) 5
As of 2010, the FDIC insured deposit accounts up to which of the following amounts?
A) $10,000. B) $25,000. C) $100,000. D) $250,000.
An increase in the interest rate will cause
A) planned investment spending to increase. B) planned investment spending to decrease. C) the investment function to shift out. D) the investment function to shift in.
U.S. interest payments on the federal debt as a percentage of federal outlays are lower today than in the 1990s
a. True b. False Indicate whether the statement is true or false