Question: The statement economics is really interesting is Select one: Normative because it is an opinion Normative because it can be proven Positive because it is

The statement "economics is really interesting" is

Select one:

Normative because it is an opinion

Normative because it can be proven

Positive because it is not saying anything bad

Positive because it can be proven

Rent is income earned from

Select one:

Capital and interest is income earned from labour

Land and interest is income earned from capital

Land and interest is income earned from entrepreneurship

Land and profit is income earned from capital

A consumer should continue to consume until the MB is

Select one:

Less than zero

Less than the MC

Greater than the MC

Equal to the MC

Opportunity costs arise because of

Select one:

Scarcity

Overconfidence in making decisions

Uncertainty

Insufficient information

The law of supplysays that

Select one:

Demand will adjust to satisfy supply

The quantity supplied of a good is directly related to its price

The quantity supplied of a good is indirectly related to its price

The market quantity is equal to the quantity supplied of a good

The law of demand says that

Select one:

The quantity demanded of a good or service is indirectly related to its price

The quantity demanded of a good or service is directly related to its price

If the price of a good goes up, then the quantity demanded of that good goes up

If the price of a good goes down, then the quantity demanded of that good goes down

A rightward shift in the demand curve for iPads could be caused by a(n)

Select one:

Decrease in income levels

Improvement in technology

Increase in the price of laptops

Expected decrease in future prices of iPads

A market is in equilibrium when the

Select one:

Quantity demanded is equal to the quantity supplied

Quantity demanded is greater than or less than the quantity supplied

Market price is at a maximum

Market price is at a minimum

can you reply to me as soon as possible, I don't need an explanation I want only an answer?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!