Which Is an Example of a Positive Economic Statement

question 18

Multiple Choice

Which is an example of a positive economic statement?

• A) The minimum wage should be higher.
• B) It would be more efficient, and therefore preferable, to legalize drugs.
• C) The government should restrict deficit spending and balance the budget.
• D) Higher interest rates will lead to lower rates of inflation.

Understand various cost measures used in social media advertising (CPM, CPC, CPA).

Recognize different social media performance measures and their implications.

Identify the types of content used by companies to engage customers on social media.

Comprehend the role of smart systems in activating actions through digital or real-world changes.

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Definitions:

Monopolist

A market participant that is the sole provider of a product or service, giving them significant control over pricing and market conditions.

Market Demand Curve

A graphical representation that shows the quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.

Perfect Competition

A market structure where many firms offer a homogeneous product, there are no barriers to entry, and firms are price takers.

Monopolistically Competitive

A commercial structure characterized by the presence of many entities selling items that resemble each other but are not exact copies, granting them limited market dominance and the ability to set their products apart.