Positive statements are descriptive, while normative statements are prescriptive
a. True
b. False
Indicate whether the statement is true or false
True
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According to the liquidity premium theory, a steep yield curve may be an indicator of
A) expectations of a significant increase in inflation. B) an upcoming recession. C) an economic slowdown. D) lower future short-term interest rates.
Cross elasticity is defined as the ________________.
A. percentage change in price of a one good (A), divided by the percentage change in the quantity demanded of a related good (B) B. percentage change in quantity demanded for one good (A), divided by the percentage change in the price of a related good (B) C. percentage change in quantity demanded for one good (A), divided by the percentage change in the price of that good (A) D. change in quantity demanded for one good (A), divided by the change in the price of a related good (B)