"A tax cut will lead to higher inflation" is an example of a positive economic statement.
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Q32: A hypothesis is a normative statement.
Q33: To be a positive economic statement, an
Q34: Economic models are of limited use since
Q35: The problem of scarcity:
A)exists because resources are
Q36: The central question in economics is how
Q38: Economics is most importantly concerned with:
A)how to
Q39: A normative statement is descriptive-it describes what
Q40: "Ceteris paribus" is a Latin expression that
Q41: Economics is primarily the study of:
A)human greed.
B)how
Q42: When society can not produce all the
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