Economics: Private and Public Choice
16th Edition
ISBN: 9781337642224
Author: James D. Gwartney; Richard L. Stroup; Russell S. Sobel
Publisher: Cengage Learning US
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Question
Chapter 1, Problem 11CQ
To determine
Determine the types of statement.
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Students have asked these similar questions
Which of the following best demonstrates the influence of economic factors on consumer decision-making?
a.
A consumer buys a Lexus after her neighbors and garden club pals each buy one.
b.
A married couple with three young children purchase a minivan.
c.
A blue collar worker holds off on buying a new truck, pending potential layoffs at work.
d.
A young professional buys a utility vehicle for off-road exploring.
18. Which of the following is a normative statement?
a.
Taking extra vitamin C prevents catching a cold.
b.
An increase in tax rates means people work fewer hours.
c.
Studying more hours leads to an increase in your GPA.
d.
States should require all motorcycle riders to wear helmets to reduce the number of accidents
This study seeks to understand and explain the behavior of individuals, as such, consumers, producers, labor, investors, business firms, etc. as they respond to changes in their economic environment.
Select one:
a. Positive economics
b. microeconomics
c. macroeconomics
d. normative economics
Chapter 1 Solutions
Economics: Private and Public Choice
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Similar questions
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