Suppose two economists agree about who would be helped or hurt by certain legislation, but disagree about whether the legislation would be a good idea. These disagreements
a. are positive in nature
b. are minor and rarely lead to different policies or conclusions
c. are normative in nature
d. occur as the result of a mistake made by an economist
e. occur because economic models are more complex, and subject to error, than the real world
C
Economics
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If the demand for money was totally independent of the interest rate, the LM curve would ________ and monetary policy would ________
A) have a positive slope, quite powerful B) have a positive slope, impotent C) be vertical, quite powerful D) be vertical, impotent
Economics
GDP minus the net income of foreigners is: a. personal income
b. national income. c. GNP. d. net national income.
Economics