Jane is currently developing a model to explain the national unemployment rate. This is an example of
A) a microeconomic topic.
B) normative analysis.
C) positive analysis.
D) how people act in an irrational manner.
Answer: C
Economics
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The deficit (as a fraction of GDP) is anticipated to rise over the next several decades due to projections of
A) increased defense spending. B) increased spending on entitlements. C) increased inflation. D) decreased corporate tax revenues. E) decreased income tax revenues.
Economics
A market in which the entire demand for a good or service can be satisfied at the least cost by a single firm is a:
A. horizontal market. B. natural monopoly. C. contestable market. D. perfect market.
Economics