Multiple Choice
"An increase in the federal minimum wage will provide a living wage for the working poor" is:
A) a statement of positive economics.
B) a fallacy of composition.
C) a tautology.
D) a statement of normative economics.
Correct Answer:
Verified
Correct Answer:
Verified
Q160: Graphically express a direct and an inverse
Q215: Scarcity is a(n):<br>A) problem only in industrialized
Q216: Which of the following are factors of
Q217: A positive economic statement must be verifiable.
Q218: The creative ability of persons to combine
Q219: An analysis of IBM's pricing decisions would
Q222: Exhibit 1A-5 Straight line <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6121m/.jpg" alt="Exhibit
Q223: The perpetual state of insufficiency of resources
Q224: Normative economics is:<br>A) usually incorrect.<br>B) a statement
Q225: Economic models are of limited use since