Which of the following statements is TRUE regarding the textbook used in this course?
A) The textbook presents only economic theory, so no value judgments are involved in the text.
B) The textbook does not include normative statements.
C) The microeconomic section of the book includes only positive analysis while the macroeconomic section includes normative analysis.
D) The selection of topics included in the book involves value judgments as well as economic theory.
Answer: D
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If the price level rises and the money wage rate remains constant, what happens to the quantity of real GDP supplied? Along which aggregate supply curve does the economy move?
What will be an ideal response?
Banks hold reserves:
A. to increase profits. B. to meet depositor withdrawals and payments. C. only because the government requires them to hold reserves. D. to earn interest.