Rent control laws are imposed when city officials believe landlords have been explon of the following criteria are they using to guide their actions? en exploiting tenants. Which (a) Efficiency (b) Equity (c) Growth (d) Stability Positive economics is an approach to economics that (a) Seeks to understand behavior and the operation of systems while making judgments about their usefulness to society. . (b) Analyzes outcomes of economic behavior, evaluates them as good or bad, and my prescribe preferred courses of action. (c) Describes the economy and how it works. (d) Prescribes roles for government in the economy. Normative economics is an approach to economics that (a) Seeks to understand behavior and the operation of systems without making judgments. (b) Analyzes outcomes of economic behavior, evaluates the as good or bad, and may prescribe preferred courses of action. (c) Describes the economy and how it works. (d) Would never prescribe a role for government in the economy Which of the following is a normative question? (a) Why do gasoline prices increase before holiday weekends? (b) What will happen to gasoline consumption if excise taxes on gasoline are increased? c) To reduce the regressive nature of the gasoline excise tax, should a portion of the gasoline tax paid by low-income individuals be refunded to them? (d) How will oil exploration be affected if the government imposes price controls on gasoline? Which of the following is a positive question? (a) Will the level of teenage unemployment increase if the minimum wage is increased? (6) Should the minimum wage be set at one-half the average manufacturing wage to guarantee individuals a decent standard of living? (c) Wouldn't it be more equitable if the minimum wage increased automatically with the cost of living? (d) Wouldn't it be better to try to increase people's wages through job training programs than by requiring employers to pay minimum wages? To isolate the impact of a single factor, economists invoke the assumption of .(a) inductive reasoning (6) Ockham's razor (c) Ceteris paribus (d) Post hoc, ergo propter hoc Sholo

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