Which of the following is a positive economic statement A The standard of

Which of the following is a positive economic

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19. Which of the following is a positive economic statement? A) The standard of living in the United States should be higher B) If the price of iPhones falls, a larger quantity of iPhones will be purchased C) The government should revamp the health care system D) The U.S. government should not have bailed out U.S. auto manufacturers Table for Individual Question Feedback Points Earned: 3.0/3.0 Correct Answer(s):B 20. Jen makes $12 per hour and Sammie makes $20 per hour. Both Jen and Sammie like to eat hamburgers that cost $5 each. Select the correct answer below Table for Individual Question Feedback Points Earned: 3.0/3.0 Correct Answer(s):A 21. Part 2: 20 questions worth 2 points each for a total of 40 points. Examining the conditions that could lead to a recession in an economy is an example of a macroeconomics topic Table for Individual Question Feedback
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Points Earned: 2.0/2.0 Correct Answer(s):True 22. Every individual, no matter how rich or poor, is faced with making trade-offs A) True B) False Table for Individual Question Feedback Points Earned: 2.0/2.0 Correct Answer(s):True 23. When voluntary exchange takes place, only one party gains from the exchange A) True B) False Table for Individual Question Feedback Points Earned: 2.0/2.0 Correct Answer(s):False 24. Table for Individual Question Feedback Points Earned: 2.0/2.0 Correct Answer(s):True 25. One desirable outcome of a market economy is that it leads to a more equitable distribution of income A) True B) False Table for Individual Question Feedback Points Earned: 2.0/2.0
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Correct Answer(s):False 26. An economic model is a simplified version of reality used to analyze real-world economic situations A) True B) False Table for Individual Question Feedback Points Earned: 2.0/2.0 Correct Answer(s):True 27. The decisions Apple makes in determining production levels for its iPhone is an example of a macroeconomics topic A) True B) False Table for Individual Question Feedback Points Earned: 2.0/2.0 Correct Answer(s):False 28. Economic resources are also called factors of production A) True B) False Table for Individual Question Feedback Points Earned: 2.0/2.0 Correct Answer(s):True 29. A curved line has slope values that change at every point A) True B) False Table for Individual Question Feedback Points Earned: 2.0/2.0 Correct Answer(s):True
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30. A straight line has a slope of zero A) True B) False Table for Individual Question Feedback
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