Which of the following is not correct?
a. Evaluating statements about how the world should be involves values as well as facts.
b. Positive statements can, in principle, be confirmed or refuted by examining evidence.
c. Normative statements can be judged using data alone.
d. Deciding what is good or bad policy is not just a matter of science.
c
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Refer to the production possibilities frontier in the figure above. Which production point is unattainable?
A) point a B) point b C) point c D) point e
(a) What happens to the fundamental value of a country's exchange rate when it raises its money supply in a fixed exchange-rate system?
Does this make the currency overvalued or undervalued if originally the official rate equaled the fundamental value? (b) What happens to the fundamental value of a country's exchange rate when the foreign country raises its money supply? Does this make the currency overvalued or undervalued if originally the official rate equaled the fundamental value? (c) So, if a country wants to maintain its official rate equal to its fundamental value, what must it do when the foreign country raises its money supply? What happens to inflation?