Question 3 Which of the following is a normative statement? Without active fiscal policy, a nation would not be able to recover quickly from a recession. All points on the production possibilities frontier (PPF) are efficient. Macroeconomics is the study of the national economy as a whole. College students often enjoy economics classes. Bread recipes usually include salt.
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Without active fiscal policy, a nation would not be able to recover quickly from a recession.
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All points on the production possibilities frontier (
PPF ) are efficient. -
Macroeconomics is the study of the national economy as a whole. -
College students often enjoy economics classes.
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Bread recipes usually include salt.
Question 4The area inside (within) the production possibilities frontier (PPF) contains _________ points.
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normative
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positive
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efficient
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inefficient
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high
opportunity cost Question 5
When the price falls, what happens?
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There is an increase in demand.
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There is an increase in the quantity demanded.
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There is a decrease in demand.
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There is a decrease in the quantity demanded.
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There is no change in the demand or quantity demanded.
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