Which of the Following Is a Positive Economic Statement

question 1

Multiple Choice

Which of the following is a positive economic statement?

• A) We should raise the minimum wage in order to provide a decent wage for more people.
• B) Consumers bought fewer cars when the relative price of cars increased.
• C) The budget deficit has been rising in recent years.
• D) Federal government spending ought to be curtailed.
• E) b and c

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Definitions:

Authorized Agent

An individual or entity that is legally empowered to act on behalf of another person or organization, making decisions and entering into agreements.

Accommodation Party

An entity or person who signs a negotiable instrument on behalf of another, guaranteeing payment without receiving any direct benefit.

Education Loan Contract

A legal agreement between a lender and a borrower, where the lender provides funds for education, which the borrower agrees to repay under defined terms.

Accommodation Party

A person who signs a negotiable instrument on behalf of another, typically to lend their credit without direct benefit.