Which of the Following Is an Example of a Positive

question 59

Multiple Choice

Which of the following is an example of a positive statement?

• A)Workers with families should be paid at least the minimum wage.
• B)If crime rates were reduced, the world would be a better place in which to live.
• C)Marginal tax rates should be reduced for individuals in the highest tax brackets.
• D)An increase in the price of gasoline will cause a reduction in the amount purchased.
• E)Corrupt politicians ought to be voted out of office.

Recognize the factors influencing demand and supply in competitive markets.

Grasp the concept of marginal utility and how it guides consumer choices and spending.

Identify the substitution and income effects in response to price changes.

Understand the economic rationale behind gift-giving, theft, and market behaviors.

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Definitions:

California

A U.S. state located on the West Coast of the United States, known for its diverse geography, climate, and influential entertainment industry.

Taxes

Compulsory financial charges imposed by a government on individuals or entities to fund public expenditures, providing various public goods and services.

Foreign Corporation

A business entity that is registered under the laws of a state or country different from where it actually does business.

Jurisdiction

The official power to make legal decisions and judgments, typically in a specific geographic area or over certain types of cases.