HW 1 - ECO303.02 HW #1 Multiple-Choice Questions (1 pt per...

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ECO303.02 HW #1 Multiple-Choice Questions (1 pt per question) There is only one correct choice in the following questions. 1) Which of the following is a positive statement? A) The President of the United States ought to be elected by a direct vote of the American people rather than the Electoral College. B) A fundamental assumption of the economic theory of consumer behavior is that consumers always prefer having more of any good to having less of it. C) Because many adults cannot afford to go to college, tax credits for tuition should be introduced. D) all of the above E) none of the above 2) 2+2 = 5 is A) a normative statement B) a moral judgement. C) correct, given common assumptions. D) a positive statement. 3) Boeing Corporation and Airbus Industries are the only two producers of long-range commercial aircraft. This market is not perfectly competitive because: A) each company has annual sales over $10 billion. B) each company can significantly affect prices. C) Airbus receives subsidies from the European Union.
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HW 1 - ECO303.02 HW #1 Multiple-Choice Questions (1 pt per...

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