A normative statement is descriptive-it describes what happens and why it happens.
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Q34: Economic models are of limited use since
Q35: The problem of scarcity:
A)exists because resources are
Q36: The central question in economics is how
Q37: "A tax cut will lead to higher
Q38: Economics is most importantly concerned with:
A)how to
Q40: "Ceteris paribus" is a Latin expression that
Q41: Economics is primarily the study of:
A)human greed.
B)how
Q42: When society can not produce all the
Q43: Economics is concerned with:
A)the choices people must
Q44: The fundamental economic problem is:
A)poverty.
B)unemployment.
C)scarcity.
D)inflation.
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