ʺWhen OPEC increases the supply of oil to the market, the price of gasoline falls.ʺ This is an example of
A) a normative statement.
B) a macroeconomic statement.
C) the failure of opportunity cost to determine prices.
D) a positive statement.
Correct Answer:
Verified
Q181: A good economic model
A) includes only those
Q182: When the president of the Bank of
Q183: Which of the following is a positive
Q184: When Susan makes the statement, ʺThe government
Q185: The statement that is a positive statement.
A)
Q187: An economic model is
A) a collection of
Q188: ʺAs part of the financial crisis bailout
Q189: ʺThe rich should pay higher income tax
Q190: Which of the following is a normative
Q191: An economic model includes
A) only normative statements.
B)
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