The U.S. government should not use my tax dollars to subsidize people on welfare
A) is a positive economic statement because it simply describes one person's opinion.
B) is a normative economic statement because it involves a value judgment about an economic policy.
C) is a positive economic statement because it predicts that my tax dollars will go to welfare.
D) is a normative economic statement because it is a scientific fact.
Question 2
All of the following are characteristics of an oligopoly EXCEPT
A) diseconomies of scale over all ranges of output.
B) small number of firms.
C) high barriers to entry.
D) interdependence.
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