The ability to lower the average costs of production as the quantity produced increases is called

Statements about what ought to be are called

A) positive statements. B) normative statements. C) assumptions. D) implications.

Full employment means that

A) everyone who wants a job has a job, although it may not be the job they really want. B) everyone who wants a job has a job, and they have the job they most prefer. C) taking seasonal fluctuations into account, only frictional and structural unemployment exist. D) the sum of structural and cyclical unemployment is greater than frictional unemployment.