Multiple Choice
Which of the following is a statement of positive economics?
A) The income tax reduces after-tax incomes of the rich.
B) A reduction in tax rates makes the after-tax distribution of income fairer.
C) Tax rates ought to be reduced so that people will work more.
D) All of the above are statements of positive economics.
Correct Answer:
Verified
Correct Answer:
Verified
Q172: Economists believe that most individuals act as
Q173: Scarcity is:<br>A)only a problem in modern industrialized
Q174: Economics is the study of how people
Q175: Which of the following contains only normative
Q176: Darla is surprised to find that the
Q178: Which of the following is true?<br>A)Virtually all
Q179: Why is prediction in social sciences like
Q180: Which of the following statements is most
Q181: The basic difference between macroeconomics and microeconomics
Q182: Which of the following are likely to