Brinley says that "gas prices are rising because there aren't enough oil refineries." Katie argues that "gas prices are rising because of the growing demand for gasoline from China and India." We can conclude that:
A. Brinley's statement is positive; Katie's statement is normative.
B. Brinley's statement is normative; Katie's statement is positive.
C. Both statements are positive.
D. Both statements are normative.
Answer: C
Economics
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An increase in the supply of money will lead to a(n)
A) increase in equilibrium real GDP and an increase in equilibrium price level. B) increase in equilibrium real GDP and a decrease in equilibrium price level. C) decrease in equilibrium real GDP and an increase in equilibrium price level. D) decrease in equilibrium real GDP and a decrease in equilibrium price level.
Economics
Which nations does the acronym BRIC stand for?
What will be an ideal response?
Economics