Which of the following is a positive, as opposed to a normative, statement?
a. The US Department of Justice should allow a merger between AT&T and T-Mobile because it would have little effect on consumers.
b. Antitrust laws should be used to prevent further concentration in the wireless telephone service market.
c. The US Department of Justice sued AT&T to block its merger with T-Mobile.
d. The wireless telephone service market is too highly concentrated.
c
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When a country's production possibilities frontier shifts outward over time, the country is experiencing
A) no opportunity cost. B) economic growth. C) higher unemployment of resources. D) a decrease in unemployment of resources. E) an end to opportunity cost.
Assume that peanut butter and jelly are complementary goods. A decrease in the number of peanut butter suppliers will cause the
a. demand for peanut butter to increase b. supply of peanut butter to increase c. demand for jelly to increase d. demand for jelly to decrease e. supply of jelly to decrease