Which of the following is NOT a normative economic statement?
A) States should reduce the tax on heating fuel oil during the winter.
B) The price of gasoline is too high.
C) People over the age of 75 should not be allowed to drive cars.
D) Teenagers are responsible for most driving fatalities.
E) We don't spend enough money on anti-smoking campaigns.
D
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Which of the following situations is least likely to involve strategic interaction?
A) two countries deciding whether to impose trade restrictions on each other B) competing convenience stores deciding how much to charge for coffee C) two customers deciding which toaster to buy from Target D) a state legislature deciding whether to legalize casino gambling
If the United States exports planes to Brazil and imports ethanol from Brazil, the price received by U.S. producers of planes ________ and the price received by Brazilian producers of ethanol ________
A) does not change; does not change B) rises; rises C) rises; falls D) falls; falls E) falls; rises