A statement of opinion about which model best explains the economy is
a. an abstraction
b. a positive statement
c. a normative statement
d. a philosophical conundrum
e. empirically verifiable
B
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Which of the following statements is true about the Canadian health care system?
a. Many Canadians travel to the U.S. in order to receive expensive treatments. b. Canadians have the option of purchasing private health insurance if they can afford it. c. Canadian physicians are salaries employees of the provincial health plans. d. Canadian hospitals have significant excess capacity that is used to treat patients from foreign countries. e. Canadian physicians are allowed to "balance bill" patients for certain high-cost procedures.
Economists assume maximizing efficiency over other goals:
A. is a guiding principle of policy-making. B. is always the best approach. C. should never be followed. D. may not bring about the best outcome for society.