)Which of the Following Is a Positive Statement

question 127

Multiple Choice

) Which of the following is a positive statement?

• A)An unemployment rate of 7 percent or higher is a national disgrace.
• B)Unemployment is a less important problem than inflation.
• C)When the national unemployment rate is 7 percent, the unemployment rate for inner­city youth is often
• Close to 40 percent.
• D)Unemployment and inflation are equally important problems.
• E)An inflation rate of 7 percent is too high.

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Definitions:

Unique Product

A product that is different from anything else on the market, either because of its brand, design, or functionality, giving it a competitive advantage.

Price

The financial requirement for obtaining a service or good.

Supply Shifts

Movements of the supply curve to the left or right, indicating a change in the quantity supplied at a given price, caused by factors other than the price of the good itself.

Equilibrium Point

The market condition where demand for a product equals its supply, resulting in a stable price and quantity.