When economists make
a. positive statements, they are speaking not as scientists but as policy advisers.
b. positive statements, they are speaking not as scientists but as forecasters.
c. normative statements, they are speaking not as scientists but as policy advisers.
d. normative statements, they are speaking not as policy advisers but as model-builders.
c
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Advertising costs are ________ costs and the per unit cost of advertising ________ as production increases
A) fixed; increases B) variable; increases C) fixed; decreases D) variable; does not change
“Crowding-out” refers to the process by which
A. high consumption leads to low saving and investment. B. the Fed prevents “runs” on banks. C. Fed sales of bonds reduce the ability of corporations to buy bonds. D. increased government spending raises interest rates, thus lowering investment spending.