Positive economics deals with
a. value judgments
b. how the economy does work
c. how the economy should work
d. how the federal government should operate
e. what the price level should be
B
You might also like to view...
What does a production possibilities frontier show?
a) scarce and less scarce resources b) global trade-offs and costs of doing business c) an economy that is producing but not at the maximum d) the maximum amount that an economy can produce
A worker would be hurt least by inflation when the: a. worker anticipates inflation and increases savings at the bank
b. worker is protected by a cost-of-living adjustment clause in an employment contract. c. the price level increases but at a decreasing rate. d. worker is protected by fixed annual increases in wages and benefits in an employment contract. e. government increases the level of social security retirement benefits to correct for the effects of unanticipated inflation.