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 higherB) If the price of iPhones falls, a larger quantity of iPhones will be purchasedC) The government should revamp the health care systemD) The U.S. government should not have bailed out U.S. auto manufacturersCorrect Answer(s):B
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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
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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
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22.Every individual, no matter how rich or poor, is faced with making trade-offs
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23.When voluntary exchange takes place, only one party gains from the exchangeA) TrueB) FalseCorrect Answer(s):False
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24.A college must decide if it wants to offer more Internet-based classes. This decision involves answering the economic question of "what to produce."
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Answer(s):25.One desirable outcome of a market economy is that it leads to a more equitable distribution of income
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26.An economic model is a simplified version of reality used to analyze real-world economic situations
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27.The decisions Apple makes in determining production levels for its iPhone is an example of amacroeconomics topicA) TrueB) FalseCorrect Answer(s):False
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28.Economic resources are also called factors of production
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29.A curved line has slope values that change at every point
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