"Mandating longer sentences for any criminal's third arrest will lead to a reduction in crime. Less crime will reduce the number of police officers cities will hire." This quotation:
a. contains positive statements only
b. contains normative statements only.
c. contains both normative and positive statements.
d. contains neither normative nor positive statements.
a
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Facing stiff competition, Hendrix College, a small liberal arts institution in Conway, Ark
, decided two years ago to bolster its academic offerings, promising students at least three hands-on experiences outside the classroom, including research, internships and service projects. Although it raised tuition and fees by 29 percent, enrollment in the freshman class rose by 37 percent. Source: Jonathan D. Glater and Alan Finder, "In New Twist on Tuition Game, Popularity Rises With the Price," New York Times, December 12, 2006 Based on the information above, the demand for Hendrix College education is A) relatively elastic. B) unit elastic. C) perfectly elastic. D) More information is needed to answer the question.
In which of the following cases did someone use adverse selection?
a. Mr. Wong truthfully told Barbara he did not know how many horsepower his truck had when he sold it to her. b. Neither Mrs. Lin nor Mr. Hill knew anything about the antique desk in Mrs. Lin’s attic, but they both made up lies about it when Mr. Hill bought it. c. Miles knew that the boat motor he sold Mr. Sutton had a bad water pump and that Mr. Sutton did not know it, but Miles still did not mention it. d. Ms. Romano and Mr. Charles are both coin experts who knew exactly the worth of the silver dollar that Ms. Romano sold to Mr. Charles.