Which of the Following Is a Positive Economic Statement

question 207

Multiple Choice

Which of the following is a positive economic statement?

• A)The inflation rate in the United States is too high.
• B)Unemployment insurance payments increase when the unemployment rate rises.
• C)The government should defund Obamacare.
• D)States should be able to enact their own marijuana legalization laws.

Understand the fundamental principles and historical development of psychological assessment and testing.

Recognize the significance and application of IQ tests and their predictive validity on life outcomes.

Identify various psychological and neuropsychological tests used for assessing different aspects of human cognition and behavior.

Grasp the theoretical underpinnings and criticisms of projective tests.

---

Definitions:

Gross Profit

The difference between revenue and the cost of goods sold, indicating the efficiency of core operations before other expenses.

LIFO Method

A cost flow assumption for inventory that treats the last items added to inventory as the first ones to be sold, generally affecting tax liabilities and reported profits.

Decreasing Unit Costs

The reduction in the cost per unit that occurs due to increased production, also known as economies of scale.

LIFO Inventory Method

An approach to inventory valuation where the most recently produced items are recorded as sold first.