A positive economic statement:
a. contains personal and social value judgments.
b. is always a mathematical expression.
c. should never be used by an economist.
d. is proper provided the advocator is clear the position rests on personal assessment.
e. is an unbiased report of the facts of the economy.
e
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One morning while working on an assignment, you realize that your computer is functioning very slow because of a new virus. Hence, you decide to get your computer serviced
Using this scenario, distinguish between the proximate cause and fundamental cause of getting your computer serviced.
An increase in government expenditure on goods and services ________ aggregate demand, shifting the aggregate demand curve ________ and potentially bringing the ________ phase of the business cycle
A) decreases; rightward; expansion B) increases; rightward; recession C) decreases; leftward; recession D) increases; rightward; expansion E) increases; leftward; recession
Refer to the scenario above. What is the value of having the extended warranty during the third year of ownership?
A) $15.03 B) $24.88 C) $44.66 D) $50.40
According to the neoclassical growth theory
A) increases in labor productivity are only temporary. B) technological change depends on people's choices. C) forces other than GDP growth determine population growth. D) higher saving rates generate permanently faster growth in GDP per person.