Normative statements are
a. prescriptive, whereas positive statements are descriptive.
b. descriptive, whereas positive statements are prescriptive.
c. backward-looking, whereas positive statements are forward-looking.
d. forward-looking, whereas positive statements are backward-looking.
a
Economics
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In markets with ____________________ & investment value revelation, all transactions take place at true market value.
Fill in the blank(s) with the appropriate word(s).
Economics
Assume the M2 multiplier is 3 and the reserve ratio is 10%. If the central bank buys $100 million of government securities from banks, the banking system's reserves will:
a. Rise by $10 million. b. Rise by $100 million. c. Fall by $100 million. d. Fall by $10 million. e. Not change.
Economics