Which of the following is a normative economic statement?
a. The unemployment rate for the United States is currently 5.4 percent.
b. The inflation rate in the United States is too high.
c. An increase in the price of a good will reduce the amount purchased.
d. Higher profits in an industry will attract more entrepreneurs into the industry.
b
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Explain which of the following count as money. a) a check in Ann's checkbook b) currency in Ann's bank c) currency in Ann's purse d) Ann's checking deposit
What will be an ideal response?
In two-part pricing
A) consumers pay a lump-sum for all the goods purchased. B) the consumer must pay a lump sum if he buys more than a certain number of units of a good. C) a firm charges more for units purchased on the weekend than for those purchased during the week. D) the average price paid per unit is higher with a small number of units purchased than if a large number of units is purchased.