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Microeconomics: An Intuitive Approach with Calculus 2nd Edition Test Bank

Microeconomics: An Intuitive Approach with Calculus 2nd Edition Test Bank is a comprehensive exam guide designed to help you master key topics with detailed explanations and practice questions.

Emma Thompson
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1.Oneoftheaimsofpositiveeconomicsistorankpoliciesunderconsiderationfrommostdesirabletoleastdesirable.a.Trueb.FalseANSWER:FalseRATIONALE:Positiveeconomicsaimstopredicttheconsequencesofpolicies,nottoevaluatethemasmoreorlessdesirable.POINTS:1DIFFICULTY:A&B-SectionMaterialQUESTIONTYPE:True/FalseHASVARIABLES:FalseDATECREATED:2/11/201510:52PMDATEMODIFIED:2/11/201510:52PM2.Positiveeconomicscantelluswhichpoliciesareefficientandwhicharenot.a.Trueb.FalseANSWER:TrueRATIONALE:Efficiencyisanobjectivelydefinedconcept:Asituationisefficientifthereisnowaytomakesomepeoplebetteroffwithoutmakingothersworseoff.Tosaythatonesituationismoreefficientthananotherisnotanormativestatement---evenifoftenpeoplethinkitisthesameassayingthatonesituationisbetterthananother.POINTS:1DIFFICULTY:A&B-SectionMaterialQUESTIONTYPE:True/FalseHASVARIABLES:FalseDATECREATED:2/11/201510:52PMDATEMODIFIED:2/11/201510:52PM

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Microeconomics: An Intuitive Approa...

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