The statement, "The price of soybeans is $8.21/bu" is an example of:
A) positive economics
B) normative economics
C) microeconomics
D) macroeconomics
Correct Answer:
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Q12: The equation of a line, y =
Q13: The payment to capital is:
A) land
B) profit
C)
Q14: An Iowa corn producer who has studied
Q15: If the price of corn increases:
A) producers
Q16: In economics, the term, "capital" refers to:
A)
Q18: Economic decisions are made by:
A) relative prices
B)
Q19: A market economy:
A) allocates good by prices
B)
Q20: Scarcity:
A) is the fundamental principle of economics
B)
Q21: If China continues to have high rates
Q22: The relationship between the price of a
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