The saying that "You cannot have your cake and eat it too" illustrates the economic concept of
A) a positive statement.
B) a normative statement.
C) physical capital.
D) opportunity cost.
D
Economics
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"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.
Economics
A fractional reserve system means a commercial bank can lend out most of its deposits
a. true b. false
Economics