For Economists, Statements About the World Are of Two Types

question 75

Multiple Choice

For economists, statements about the world are of two types:

• A) assumptions and theories.
• B) true statements and false statements.
• C) specific statements and general statements.
• D) positive statements and normative statements.

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Definitions:

Prevailing Yield

The current return rate on an investment, typically referring to bonds or other fixed-income securities.

Simple Interest

Interest calculated only on the principal amount, or the initial sum of money invested or borrowed, without compounding.

Convert Communicator

This term refers to an individual who adopts new beliefs or practices and then acts to persuade others to adopt these new beliefs or practices as well.

Previously Held Attitudes

Beliefs or opinions that an individual had before being exposed to new information or experiences.