Suppose two economists are arguing about policies that deal with unemployment. One economist says. The government could lower unemployment by one percentage point if it would just increase government spending by 50 billion dollars the other economist responds Nonsense and poppycock! If the government spent an additional 50 billion dollars it would reduce unemployment by only one tenth of one percent. and that effect would only be temporary! These economists ?

Suppose two economists are arguing about policies that deal with unemployment. One economist says. The government could lower unemployment by one percentage point if it would just increase government spending by 50 billion dollars the other economist responds Nonsense and poppycock! If the government spent an additional 50 billion dollars it would reduce unemployment by only one tenth of one percent. and that effect would only be temporary! These economists ?

A. None of these answers
B. Disagree because they have different scientific judgments
C. really don’t disagree at all. It just appears that they disagree
D. disagree because they have different values

Positive statements are ?

Positive statements are ?

A. Macroeconomic
B. Microeconomics
C. statements of description that can be tested
D. Statements of prescription that involve value judgments.

Which of the following statements is normative ?

Which of the following statements is normative ?

A. Large government deficits cause an economy to grow more slowly
B. People work harder if the wage is higher
C. The unemployment rate should be lower
D. Printing too much money causes inflation

Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ?

Suppose two economists are arguing about policies that deal with unemployment One economist says the government should fight unemployment because it is the greatest social evil The other economist response Nonsense Inflation is the greatest social evil These economists ?

A. really don’t disagree at all It just appears that they disagree.
B. disagree because they have different values.
C. none of these answers.
D. disagree because they have different scientific judgments.

In making which of the following statements is an economist acting more like a scientist ?

In making which of the following statements is an economist acting more like a scientist ?

A. A reduction in unemployment benefits will reduce the unemployment benefits will reduce the unemployment rate.
B. The rate of inflation should be reduced because it robs the elderly of their savings.
C. The unemployment rate should be reduced because unemployment robs individuals of their dignity.
D. The state should increase subsidies to universities because the future of our country depends on education.

Economic growth is depicted by ?

Economic growth is depicted by ?

A. a shift in the production possibilities frontier outward.
B. a movement from inside the curve toward the curve.
C. a shift in the production possibilities frontier inward
D. a movement along a production possibilities frontier toward capital goods.