Which of the Following Is a Positive Statement

question 71

Multiple Choice

Which of the following is a positive statement?

• A)We need to carefully protect our borders.
• B)Hyperinflation is the most damaging thing that can occur in an economy.
• C)When tax revenues are less than government spending there is a budget deficit.
• D)Foreign aid should be reduced to help our budget deficit.

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Definitions:

Quantity Purchased

The total number of units of a product or service bought by consumers in a specified period.

Price Elasticity

The evaluation of demand's reaction to fluctuations in the price of a particular good.

Responsiveness

The degree to which a variable responds to a change in an underlying factor, often used in economic contexts to describe changes in supply, demand, price, etc.

Price Elasticity

A measure of how much the quantity demanded or supplied of a product changes in response to a change in its price.