Which of the following contains only normative statements?
a. The birth rate is reduced as economies urbanize, but that also leads to a decreased average age of developing countries' populations.
b. An increase in the price of corn will decrease the amount of corn purchased. However, it will increase the amount of wheat purchased.
c. A decrease in the price of butter will increase the amount of butter purchased, but that would be bad because it would increase Americans' cholesterol levels.
d. None of the above contain only normative statements.
d
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The marginal propensity to import is larger in Mexico than in the United States. As a result,
A) there is less autonomous investment in Mexico. B) the expenditure multiplier is larger in Mexico. C) the expenditure multiplier is larger in the United States. D) induced expenditure is larger in Mexico. E) there is more autonomous expenditure in Mexico.
The amount of a good that is given up to produce another good is:
a. its dollar cost. b. its opportunity cost. c. its relative cost. d. its absolute cost. e. all of these.