In an Interview an Economist States,"This Problem Should Be of Greater

question 145

Multiple Choice

In an interview an economist states,"This problem should be of greater concern to the federal government." We can explicitly put this statement in the category of

• A) microeconomics.
• B) macroeconomics.
• C) positive economics.
• D) normative economics.

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Definitions:

Cover

A buyer’s right to substitute goods for those due under a sales or lease agreement when the seller provides nonconforming goods.

Substitute Goods

Products that can be used in place of each other, satisfying the same needs or wants.

Lease Agreement

A contract between a lessor and a lessee for the rental of property, usually real estate, for a specified period of time.

Insolvent

The state of being unable to pay debts owed, often leading to bankruptcy proceedings.