Question 1

Even if something has a price of zero,every good or service has a cost.Which of the following statements best describes this idea?

Accepted Answer

A) Que Sera,Sera. 
B) He who laughs last laughs best. 
C) The early bird catches the worm. 
D) A penny saved is a penny earned. 
E) There is no such thing as a free lunch. 
A) Que Sera,Sera. 
B) He who laughs last laughs best. 
C) The early bird catches the worm. 
D) A penny saved is a penny earned. 
E) There is no such thing as a free lunch.

Question 2

Which of the following is an example of a normative statement?

Accepted Answer

A) The moon is made of green cheese. 
B) Women should earn the same income as men. 
C) When the price of a good rises,people will buy more of it. 
D) The more time you spend studying,the higher your economics test scores will be. 
E) The more time you spend studying for chemistry,the higher your economics test score will be. 
A) The moon is made of green cheese. 
B) Women should earn the same income as men. 
C) When the price of a good rises,people will buy more of it. 
D) The more time you spend studying,the higher your economics test scores will be. 
E) The more time you spend studying for chemistry,the higher your economics test score will be.

Even if something has a price of zero,every good or service has a cost.Which of the following statements best describes this idea?

Which of the following is an example of a normative statement?

Economic Tools and Economics Systems

Economic Decision Makers

Demand, supply, and Markets

Introduction to Macroeconomics

Tracking the Useconomy

Unemployment and Inflation

Productivity and Growth

Aaggregate Expenditure and Aggregate Demand

Baggregate Expenditure and Aggregate Demand

Aggregate Supply

Fiscal Policy

Federal Budgets and Public Policy

Money and the Financial System

Banking and the Money Supply

Monetary Theory and Policy

Macro Policy Debate: Active or Passive

International Trade

Externalities and the Environment

International Finance

Economic Development

understanding Graphs

National Income Accounts

The Algebra of Demand-Side Equilibrium

Filters

Exam 1: The Art and Science of Economic Analysis

Even if something has a price of zero,every good or service has a cost.Which of the following statements best describes this idea?

Which of the following is an example of a normative statement?

Economic Tools and Economics Systems

Economic Decision Makers

Demand, supply, and Markets

Introduction to Macroeconomics

Tracking the Useconomy

Unemployment and Inflation

Productivity and Growth

Aaggregate Expenditure and Aggregate Demand

Baggregate Expenditure and Aggregate Demand

Aggregate Supply

Fiscal Policy

Federal Budgets and Public Policy

Money and the Financial System

Banking and the Money Supply

Monetary Theory and Policy

Macro Policy Debate: Active or Passive

International Trade

Externalities and the Environment

International Finance

Economic Development

understanding Graphs

National Income Accounts

The Algebra of Demand-Side Equilibrium

Filters