"We Should Support the Market Because It Is Efficient" Is

question 89

Multiple Choice

"We should support the market because it is efficient" is an example of:

• A) positive economics.
• B) normative economics.
• C) objective economics.
• D) negative economics.

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Definitions:

Oil Prices

The cost per barrel of crude oil, which can fluctuate based on supply and demand factors, geopolitical events, and market speculation.

Traveler's Checks

Preprinted, fixed-amount checks designed to allow the person signing them to make an unconditional payment to someone else as a result of having paid the issuer for that privilege.

Debit Card

A payment card that deducts money directly from a consumer's checking account to pay for a purchase.

Credit Card

A payment card issued to users as a method of payment allowing the cardholder to borrow funds with which to pay for goods and services with the promise to pay back the lender.