"An increase in the price of a product causes consumers to purchase more of that product" is an example of a positive economic statement.
Correct Answer:
Verified
Q43: The assumption of rational self-interest does not
Q59: A rational individual would make charitable contributions
Q63: Most real economic choices involve small (or
Q69: A marginal adjustment only refers to a
Q117: Normative economic statements refer to what should
Q125: Sara is considering the purchase of a
Q127: "There should be less discrimination against women"
Q128: A good economic theory brings clarity to
Q129: Rational self-interest is equivalent to pure selfishness.
Q135: Microeconomics: A Contemporary Introduction,McEeachern 11e
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents