"A decrease in the price of tablet computers will decrease the demand for desktop computers." This statement is an example of a normative economic statement

If the price index last year was 100 and today it is 167, what is the inflation rate over this period?

A) 33 percent B) -67 percent C) -6.7 percent D) 167 percent E) 67 percent

When a price ceiling is imposed below the equilibrium price of a commodity,

a. quantity supplied will be greater than quantity demanded for the good. b. the problem of scarcity will be solved. c. a shortage of the good will develop. d. a surplus of the good will develop.