"Smokers are more likely to be murdered than nonsmokers." This statement is an example of:
A) the fallacy of unintended consequences.
B) a positive economic statement.
C) a normative economic statement.
D) a value judgment.
Ans: B) a positive economic statement.
Economics
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If a product is a normal good, then its income elasticity of demand is
A) zero. B) positive. C) negative. D) indeterminate. E) greater than 1.
Economics
An oligopoly is a market: a. dominated by a few buyers. b. dominated by one buyer
c. dominated by a few sellers. d. with many sellers.
Economics