1. Which of the following is an example of a positive statement about microeconomics?

a. The result of an effective price floor is for quantity supplied to exceed quantity demanded

b. The Trump tax cuts should be repealed

c. The tax burden is dependent on whom the tax is applied on

d. The unemployment rate for November 2018 is 3.7%

2.Consider the following decision:whether to go to community college. Suppose there is an increase in the wages for full-time jobs that require a high school diploma. In terms of the net benefit equation, how is the choice of whether to go to community college affected?

a. The benefit of going to community college increases

b. The explicit cost of going to community college increases

c. The opportunity cost of going to community college increases

d. The Nazarov cost of going to community college decreases

3.In terms of net benefit, what is the effect of adecreasein the tastes and preferences for landline phones on the decision to purchase a landline phone?

Increases the opportunity cost

Increases the benefit

Decreases the benefit

Decreases the explicit cost