Which of the following statements is a normative?
a. The price of gasoline is rising
b. The price of gasoline is too high
c. Gas prices are expected to fall in the near future
d. Cars can run on gasoline, electricity, or diesel fuel
e. When the price of gasoline rises, drivers buy less gasoline
Answer: b. The price of gasoline is too high
Economics
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Refer to Figure 13-2. Ceteris paribus, an increase in the expected price of an important natural resource would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
Economics
Refer to Figure 18-1. Europe experiences an economic boom. Assuming all else remains constant, this would be represented as a movement from
A) C to B. B) D to A. C) D to C. D) B to A.
Economics