An example of a positive statement is:
A) The rate of unemployment should be 4 percent.
B) A high rate of economic growth is good for the country.
C) an increase in investment spending tends to reduce unemployment.
D) Everyone in the country needs to be covered by national health insurance.
Ans: C) an increase in investment spending tends to reduce unemployment.
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In the long run, the output of a monopolistically competitive firm
a. exceeds that of an otherwise similar perfectly competitive firm b. is less than that of an otherwise similar perfectly competitive firm c. is at the point at which LRAC is minimized d. equals that of an otherwise similar perfectly competitive firm e. is less than that of an otherwise similar monopolist
Briefly explain the case for a negative income tax.
What will be an ideal response?