At a product's equilibrium price A) anyone who needs the ...

[jayhills49]

At a product's equilibrium price
 
  A) anyone who needs the product will be able to buy the product, regardless of ability to pay.
  B) not all sellers who are willing to accept the price will find buyers for their products.
  C) the federal government will provide the product to anyone who cannot afford it.
  D) any buyer who is willing and able to pay the price will find a seller for the product.

Question 2

Which of the following are positive economic statements and which are normative economic statements?
 
  a. An increase in the minimum wage causes unemployment.
  b. The government should raise the minimum wage above 7.25 per hour.
  c. The prolonged recession has caused the unemployment rate to reach a 30-year high.
  d. Interest rates need to be lower for the economy to emerge from the recession.
  e. Inflation has decreased since the onset of the recession.
  f. Once the recession has ended, interest rates should increase to assure that inflation does not go up.

[Dunkey]

Answer to Question 1

D

Answer to Question 2

Statements a, c, and e are positive economic statements. Statements b, d, and f are normative economic statements.