All of the Following Statements,except One,are Normative Statements.
All of the following statements,except one,are normative statements.Which is the exception?
A)The taxes on gasoline should be lower.
B)Lowering the taxes on gasoline would decrease the price at the pump.
C)It is wrong for the government to tax gasoline.
D)The government is trying to mislead people about the tax on gasoline.
What does the term technology mean to an economist?
A)The way various factors of production are combined to obtain output.
B)The most recent methods of production.
C)High-tech methods of production as found,for example,in the computer industry.
D)The way in which products are allocated.
What term is used to describe the way that the various factors of production are combined to obtain output?
B)Types of economies.
C)Ways of coordinating an economy.
Which of the following is a capital good?
A)An oven in a bakery.
B)A home computer.
C)The first application of CD ROM technology to an economics textbook.
D)An investment in IBM stock.