Which of the following is true regarding this statement? "The president's decision to spend more money on national defense is smart."
A) This is a normative statement.
B) The federal government does not face scarcity.
C) This topic would be studied in microeconomics.
D) Social interest must always be more important than self-interest.
E) Ceteris paribus does not apply to the government.
A
Economics
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The term "business cycle" most closely refers to the
A) fluctuating profits of firms. B) fiscal year. C) accounting period used by firms. D) alternating periods of expansions and recessions.
Economics
The Endangered Species Act has
A) caused a loss of economic activities on some private land. B) saved all endangered species without affecting anyone. C) further reduced the number of endangered species. D) had no impact on either the number of endangered species or other economic activities.
Economics