0. Basic Principles of Economics

Which term best describes the rules of conduct enacted and enforced by governments?

Which of the following statements is an example of positive analysis?

Which of the following best describes what an effective policy specifies in the context of positive and normative analysis?

Which of the following terms implies the least degree of confidence in an economic generalization?

Which of the following best describes how natural resources impact economic development?

Property rights encourage investment in property because:

Which of the following statements is normative?

Which of the following statements is NOT consistent with the efficient market hypothesis?

Which of the following is a normative statement?

Which of the following best explains why long-run objectives should take precedence over short-run objectives in economic policy analysis?

The key assumption that accompanies the use of numbers for measuring utility is that:

Which of the following costs should be ignored when weighing the costs and benefits of an action?

Which of the following statements best describes positive economics?

Adopting socially responsible business practices is a form of ______.

Which of the following statements is a valid economic conclusion based on positive analysis?