When Economists Make

question 6

Multiple Choice

When economists make

• A)positive statements,they are speaking not as scientists but as policy advisers.
• B)positive statements,they are speaking not as scientists but as forecasters.
• C)normative statements,they are speaking not as scientists but as policy advisers.
• D)normative statements,they are speaking not as policy advisers but as model-builders.

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Definitions:

Open Spaces

Areas of land that are not developed, reserved for public use or enjoyment, often to preserve natural or cultural resources.

Hidden Defects

Flaws or imperfections in a product or property that are not readily observable and may not be known until after a transaction has occurred.

Jurisdictions

The official power to make legal decisions and judgments, often within a specific geographic area or over a certain type of case.

Marketable Title

A title to real property that is free from significant defects, encumbrances, or liens, and can be easily sold or mortgaged.