Which of the following is a normative statement?
A) The governmentʹs cuts in welfare spending impose an unfair hardship on the poor.
B) Consumers will buy more gasoline over the Christmas holiday even if the price of gas is 10 cents higher than it was during the Thanksgiving holiday.
C) The current butter surplus is the result of federal policies.
D) Next yearʹs inflation rate will be under 4 percent.
Correct Answer:
Verified
Q185: The statement that is a positive statement.
A)
Q186: ʺWhen OPEC increases the supply of oil
Q187: An economic model is
A) a collection of
Q188: ʺAs part of the financial crisis bailout
Q189: ʺThe rich should pay higher income tax
Q191: An economic model includes
A) only normative statements.
B)
Q192: Consider the following events:
i. Samsung hires associates
Q193: A normative statement is
A) about what ought
Q194: Ben Bernanke, Chairman of the Federal Reserve,
Q195: When Ben Bernanke, Chairman of the Federal
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