When Susan makes the statement, "The government should spend less money to take care of national parks," she is
A) making a normative statement.
B) making a positive statement.
C) testing an economic model.
D) not dealing with scarcity.
A
Economics
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Which of the following four-firm concentration ratios is consistent with monopolistic competition?
A) 100 percent B) 75 percent C) 25 percent D) 0 percent E) 91 percent
Economics
Refer to Figure 18-2. If the government imposes an excise tax of $1.00 on every unit sold, what is the size of the deadweight loss, if there is any?
A) the area adc if the supply curve is S0 and the area bec if the supply curve is S1. B) the area becf under either supply curve. C) the area afcd if the supply curve is S0 and the area bfce if the supply curve is S1. D) There is no deadweight loss; revenue raised is used to fund government projects.
Economics