When the president says that "High inflation rates are a much more serious economic problem than high unemployment rates," it is an example of
A) a normative statement.
B) an empirically proven fact.
C) a positive statement.
D) an irrational argument.
Answer: A
Economics
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The firm shown in the figure above is
A) a natural monopoly because its LRAC curve slopes downward where it intersects the demand curve. B) not a natural monopoly because its LRAC curve slopes downward where it intersects the demand curve. C) not a natural monopoly because its MC curve is horizontal. D) not a natural monopoly because its MC curve is below its LRAC curve.
Economics
The government corporation that insures pension benefits is
A) Fannie Mae. B) Ginnie Mae. C) Penny Benny. D) Sallie Mae.
Economics