0. Basic Principles of Economics

A positive statement is always:

Which of the following statements is an example of a normative statement?

Which of the following is an example of a normative, as opposed to positive, statement?

Which of the following is a normative economic statement?

A market-oriented firm defines its business in terms of:

Which theory suggests that society's interests are most effectively represented through group action?

Which of the following principles reflects the concept of market justice?

Which of the following best describes Gordon's 'bird in the hand' fallacy in the context of positive and normative analysis?

In the context of positive and normative analysis, what does it mean to say that two variables are positively associated?

How do economists use data in positive and normative analysis?

Which type of economic analysis usually stresses the equality of all citizens?

Which of the following most helps inform policy decision-makers?

Which of the following helps measure the quality of a good economic model?

To find the best decision option, you should choose a solution that:

Which of the following best describes a benefit of informed decisions in economic analysis?