Inflation psychosis and wage-price spirals are two types of hyperinflation

A subjective analysis of "what should be" in the economy is referred to as

A) positive economics. B) normative economics. C) command economics. D) implicit economics.

Capture theory is

A) an economic theory of regulation. B) a model about perfect competition. C) the same as the public interest theory. D) the theory that regulators capture firms' attention by dictating a very low price. E) a theory that explains behavior of competitive firms.