"The government should levy higher taxes on the rich and use the additional revenues to provide better housing for the poor." What is this statement an illustration of?
A) the fallacy of composition
B) a normative economic statement
C) the basic principle of economics
D) a positive economic statement
Correct Answer:
Verified
Q107: What is the result of economic choices
Q108: When U.S. President Harry Truman said that
Q109: Which of the following descriptions of normative
Q110: Which description of positive statements is the
Q111: "A reduction in the rate at which
Q113: Which of the following represents a normative
Q114: "The minimum wage should be increased so
Q115: Why is it important to be able
Q116: Which of the following statements about scarcity
Q117: Which of the following statements best describes
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents