Normative economic principles are concerned with how people ________ make decisions while positive economic principles are concerned with how people ________ make decisions.
A. in ordinary life; in power
B. should; do
C. do; should
D. in power; in ordinary life
Answer: B
Economics
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What factors can change expectations about the exchange rate?
A) interest rate parity B) purchasing power parity C) real GDP parity D) Both answers A and B are correct.
Economics
Assume a new technology is developed that increases the productivity of capital and creates additional economies of scale. How would this affect the firm's minimum efficient scale of operation. Illustrate this effect graphically
What will be an ideal response?
Economics