Suppose that opportunity costs are constant and that Fred can either bake a maximum of six pies or three cakes in a day. Ethel can either produce a maximum of eight pies or two cakes in a day. Fred's opportunity cost to produce one cake is

Examine the following statements and determine if they are normative or positive in nature. Explain your answer

a. The U.S. automotive industry registered its highest growth rate in 5 years in 2012; U.S. auto sales increased by 13% compared to 2011 . b. The U.S. government should increase carbon taxes to control emissions that cause global warming.

An appreciating yen makes Japanese products

A) more expensive in both foreign markets and the Japanese market. B) more expensive in foreign markets. C) more expensive in the Japanese market. D) less expensive in foreign markets.