Economists' suggestions for social policy are determined by subjective value judgments as well as by objective economic analyses.

Answer the following statement true (T) or false (F)

True

Although in positive analysis economists try to keep their value judgments separate, policy proposals necessarily involve value judgments.

Economics

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How do large increases in oil prices affect the economy?

What will be an ideal response?

Economics

The change in output from hiring one additional unit of labor:

a. increasing marginal returns b. total cost c. marginal revenue d. marginal product of labor e. marginal cost

Economics