econ.docx - Which of the following is a statement of...

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Which of the following is a statement of positive economics? Selected Answer: b. A reduction in tax rates makes the after-tax distribution of income fairer. Correct Answer: a. The income tax reduces after-tax incomes of the rich. Question 2 2 out of 2 points Economics is primarily concerned with the study of: Selected Answer: a. production and distribution of goods in a world of limited resources. Correct Answer: a. production and distribution of goods in a world of limited resources. Question 3 0 out of 2 points Which of the following is an example of microeconomic analysis? Selected Answer: a. impact of taxation on national income Correct Answer: d. none of the above Question 4 2 out of 2 points Bill says: "The imposition of a tax on tequila will increase its price." Bob says: "Taxes should be imposed on tequila because college students drink too much." Selected Answer: a. Bill's statement is positive, and Bob's statement is normative.
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