A Positive Economic Statement

question 80

Multiple Choice

A positive economic statement:

• A) contains personal and social value judgments.
• B) is always a mathematical expression.
• C) should never be used by an economist.
• D) is proper provided the advocator is clear the position rests on personal assessment.
• E) is an unbiased report of the facts of the economy.

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Definitions:

Total Project Cost

The complete financial expenditure required to finish a project, including all direct and indirect costs.

Quantity of Sales

The total number of units sold of a particular product or service within a specific timeframe.

First Year

The initial year of a particular time frame or activity, often used to set a baseline for comparison.

Profit Generated

The amount of money that remains from revenues after all the firm's expenses are subtracted.