Which of the Following Is a Positive Economic Statement

question 326

Multiple Choice

Which of the following is a positive economic statement?

• A) Government must maintain the current level of defense spending to keep the nation safe.
• B) The minimum wage should be increased to give people a decent wage.
• C) Americans should buy American products in order to boost the national economy.
• D) Stock prices rose to a new record last month for the fourth month in a row.

Explain the relationship between average revenue, total revenue, and the pricing mechanism in pure competition.

Grasp the rationale behind non-advertising by purely competitive firms.

Identify and interpret key curves (total cost, total revenue, marginal revenue) related to a purely competitive firm.

Calculate and analyze profit maximization strategies for purely competitive firms.

---

Definitions:

Control

The power to influence or direct people's behavior or the course of events.

Property Destruction

The act or process of causing significant damage or destruction to property, whether intentionally or through negligence.

Sexual Assault

An act in which a person intentionally sexually touches another person without their consent or coerces or physically forces a person to engage in a sexual act against their will.

Dialectical Thinking

A form of reasoning that recognizes and integrates opposing viewpoints and ideas to reach a higher understanding or synthesis.