The statement, "The price of wheat should be higher" is an example of:
A) positive economics
B) normative economics
C) microeconomics
D) macroeconomics
Correct Answer:
Verified
Q2: Garbage is an example of:
A) an economic
Q3: All real-world economies are:
A) market
B) command
C) mixed
D)
Q4: Since World War II, US agriculture has
Q5: Economics is:
A) universally loved, since it allows
Q6: A consumer is:
A) a household
B) a buyer
C)
Q8: An economic good is always:
A) scarce
B) free
C)
Q9: Total revenues for a business firm in
Q10: A producer is:
A) an individual who makes
Q11: The statement, "Michael Phelps is the greatest
Q12: The equation of a line, y =
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