An Example of a Positive Statement Is

question 18

Multiple Choice

An example of a positive statement is:

• A) The rate of unemployment should be 4 percent.
• B) A high rate of economic growth is good for the country.
• C) an increase in investment spending tends to reduce unemployment.
• D) Everyone in the country needs to be covered by national health insurance.

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Definitions:

World Price

The worldwide market cost of a product, determined by the global forces of supply and demand.

Quantity Supplied

The quantity of a product that suppliers are ready to sell at a particular price during a defined time frame.

Comparative Advantage

An individual's, a business's, or a nation's potential to produce a service or good at an opportunity cost that is inferior to that of its competition.

Production Possibilities

Production possibilities refer to the different combinations of goods and services that an economy can produce given its available resources and technology.