In a congressional debate about agricultural price supports, senators, members of congress, and other experts made the following four statements. Which of these is a normative statement?
a. "Price supports are important because America should preserve the small family farm."
b. "Without price supports, the price of wheat and corn will fall by over twenty percent."
c. "The decline in commodity prices caused by the removal of price supports will result in fewer, larger farms."
d. "The decline in commodity prices caused by the removal of price supports will reduce the number of tractors sold in the United States."
a
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The above figure shows the apartment rental market in Bigtown. If the Bigtown Housing Authority imposes a rent ceiling of $1,000 per month, the ceiling will
A) help all renters. B) help some renters and hurt other renters. C) help all landlords. D) have no effect at all on the Bigtown rental market.
If a country's currency depreciates, then its exports will cost ________ abroad and its imports will cost ________ domestically
A) less; less B) less; more C) more; less D) more; more