The President's statement that "to encourage economic growth, taxes should be cut"
A) would be an example of a normative statement.
B) would be an example of a positive statement.
C) would be an example of a microeconomic statement.
D) would be a statement of mercantilist economic philosophy.
Answer: A
Economics
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If the amount paid as unemployment benefits decreases, the opportunity cost of job search
A) falls and people stay unemployed for a shorter time. B) rises and people would stay unemployed longer. C) rises and people stay unemployed for a shorter time. D) falls and people stay unemployed for a longer time. E) is not affected because unemployment benefits do not change job availability.
Economics
In the long run, firms in monopolistic competition have excess capacity
Indicate whether the statement is true or false
Economics