The current rate of unemployment of 5% is too high. This is an example of
The current rate of unemployment of 5% is too high. This is an example of
a. normative statement
b. positive statement
c. the circular flow model
d. none of the above.
My answer is C because The circular-flow diagram represents the transactions in an economy by flows around a circle.
The primary difference between a change in demand and a change in the quantity demanded is
a. change in demand is a movement along the demand curve and a change in quantity demanded is a shift in the demand curve
b. change is quantity demanded is a movement along the demand curve and a change in demand is a shift in the demand curve
c. both a change in quantity demanded and a change in demand are shifts in the demand curve, only in different directions
d. both a change in quantity demanded and a change in demand are movements along the demand curve, only in different directions
my answer is B
If people demand more of product A when the price of B falls, then A nad B are
a. not related
b. substitutes
c. complements
d. Inferior.
My answer is I think I is D
Normative and positive statements; a change in demand and a change in the quantity demanded.
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