"OPEC should supply more oil so that the world's economies can grow more rapidly." This is an example of
A) a normative statement.
B) a positive statement.
C) a decision at the margin.
D) OPEC overcoming scarcity.
A
Economics
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Figure 4.4 illustrates the supply of tacos. An increase in the price of ground beef, which is used to make tacos, would most likely cause a movement from
A) point a to point b. B) point c to point b. C) S2 to S1. D) S0 to S1.
Economics
The Bureau of Economic Analysis refers to the difference between the values for GDP and GDI as
A) gross national product. B) net factor payments. C) transfer payments. D) the statistical discrepancy.
Economics