"Americans hate broccoli." "Because so few Americans like broccoli, average broccoli sales are lower in America then anywhere else." Which of these two statements about the preferences of Americans is more accurate? Why?
What will be an ideal response?
The second statement is more accurate because groups do not have preferences, only individuals do. The second statement aggregates the individual preferences of United States residents toward broccoli without making a universal statement about Americans as a group.
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The current exchange rate system in the United States is best described as a
A) silver standard. B) fixed exchange rate system. C) managed float exchange rate system. D) gold standard.
The aim of supply-side economics is to: a. increase government spending to stimulate aggregate supply
b. stimulate exports to increase the balance of payments. c. decrease wages to make production cheaper. d. lower taxes to increase the supply of resources. e. reduce both the inflation and unemployment problems through increases in taxes.