ECO 450 Week 3 Quiz

ECO 450 Week 3 Quiz Download Question 1 Which of the following is a normative statement? Question 2 If a government desires to increase production beyond the current competitively determined efficient level, the government should: Question 3 If the... More

ECO 450 Week 3 Quiz Download Question 1 Which of the following is a normative statement? Question 2 If a government desires to increase production beyond the current competitively determined efficient level, the government should: Question 3 If the efficient output of a good is produced each week, then the: Question 4 Normative economics: Question 5 Diamonds are sold by a monopoly firm that maximizes profits. Then it follows that: Question 6 The marginal social cost of bread exceeds the marginal social benefit at the current weekly output. Therefore, Question 7 An efficient level of output means: Question 8 Positive economics is: Question 9 Suppose the efficient output currently prevails in the market for ice cream. A tax on ice cream consumption will: Question 10 The extra benefit on one more unit of a good or service is its: Question 11 The total social benefit of automobiles equals the total social cost at current annual output. Then it follows that: Question 12 Positive economics: Less