Are either or both of these newspaper headlines positive or normative? 1. Smoking causes lung cancer. 2. The minimum wage should not be increased. Statement 1 is a statement because it be tested. O A. positive; can B. normative; can OC. normative; cannot O D. positive; cannot
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- The demand curve for a normal good shifts leftward if income or the expected future price, O a. decreases; falls O b. decreases; rises O c. increases; falls O d. increases; rises Clear my choice Which of the following does NOT shift the supply curve? Select one: O a. a technological advance O b. an increase in the price of the good a decrease in the wages of labor used in production of the good O d. movement along supply curve Clear my choiceA change in which factor would shift the supply curve? Select one: O a. production technology b. the demand for the product c. the price of the good being sold d. the willingness of consumers to pay"Rent controls, government farm programs, and other price ceilings and price floors are bad." This is an example of a O A. positive statement. The statement is concerned with what is. O B. normative statement. The statement is concerned with what should be. OC. normative statement. The statement is concerned with what is. O D. positive statement. The statement is concerned with what should be.
- Price Keram H 1 1 4 Becky's D for Blueberries Demand Refer to the graph above to answer this question. The graph shows Becky's demand for blueberries which can be purchased in any quantities and sold at any price What is Becky's total willingness to pay for 6 kilograms of blueberries if the price of each kilogram of blueberries is $27 Multiple Choice O O O O O $12. Cannot be determined. $18. $6. $2If the price of a pie is 12, what is the maximum number of pies she could buy in a week?If the price of a good increases, then Select one: O A. the demand for complementary goods will increase. O B. the demand for the good will increase O c. the demand for the good will decrease O D. None of the above
- Zach is a physics student who is considering taking an extra course in history. An incentive that might encourage him to take the history course is O A. a decrease in the GPA of students who take history O B. tougher grading in physics OC. an increase in tuition O D. an increase in the salaries of physics graduatesTime left 0:56:44 All of the following except one would increase the amount of a particular model of a Ford automobile that buyers would like to buy. Which is the exception? Select one: O a. an increase in buyers' incomes O b. increased prices of other Ford models an expected future increase in the price Ос. O d. a decrease in the price of steel an increase in the population O e. Next ge eg IMG_7969.jpeg JPEGWhich one of the following would cause an increase in the supply of planes? Select one: O a. an increase in the price of planes O b. an increase in taxes applied to plane producers Oc. an improvement in the technology used to produce planes O d. a decrease in the demand for planes Which of the following results in a movement along the supply curve of spinach but does not shift the supply curve of spinach? Select one: O a. a rise in the price of spinach O b. disastrous weather that destroys half of this year's spinach crop this year Oc. great weather that produces a bumper spinach crop O d. an increase in wages for workers in spinach fields
- The demand for a given good will decrease when the price of its substitute and the demand for a given good also decreases when the price of its complement Select one: O a. None of the provided answers are correct O b. rises; rises O c. falls; falls O d. falls; rises Assume a demand curve for coffee; Which of the following would NOT shift the demand curve for coffee? Select one: O a. an increase in wages O b. a decrease in the price of tea O c. price of coffee changes O d. a change in taste for teaGovernment intervention can increase total welfare when O A. there are costs or benefits that are external to the market O B. consumers do not have perfect information about product quality. O C. a high price makes the product unaffordable for most consumers. O D. all of the above. O E. A and Bonly.A numeraire good is O A) A good worth money O B) A good whose value is agreed upon O C) A good widely used in trade O D) A good in which the value of other goods is expressed