Which of the Following Is a Positive Economic Statement

question 175

Multiple Choice

Which of the following is a positive economic statement?

• A)The standard of living in the United States is too low.
• B)If the price of beef falls, a larger quantity of it will be bought.
• C)The government should implement a national consumption tax.
• D)The U.S. government should increase regulations on the banking industry.

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Definitions:

Creativity

The ability to generate novel and valuable ideas or solutions to problems.

Innovation Process

The series of steps involved in developing and implementing new ideas, products, or services, typically including ideation, validation, development, and commercialization.

Idea's Value

The intrinsic or perceived worth of an idea, based on its potential impact, innovation, and usefulness.

Final Application

The ultimate or last in a series of steps, processes, or applications, often implying a conclusion or end result.