Which of the following is an example of a normative economic statement?
A) Prices rise when the government prints too much money.
B) Universal access to quality health insurance is the most important domestic policy issue of our time.
C) Interest rates rise when the government runs persistent budget deficits.
D) Extending the time in which laid-off workers are eligible to receive government unemployment compensation has increased the unemployment rate.
E) Lowering marginal income tax rates depresses consumer spending.
B
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In the early 1970s, the U.S. ran large balance of payments ________, causing an ________ dollar and an ________ German mark
A) deficits; undervalued; overvalued B) deficits; overvalued; undervalued C) surpluses; undervalued; overvalued D) surpluses; overvalued; undervalued
A bank's most important service is
a. making money b. providing checking account services c. organizing money flowing into accounts d. providing investment advice e. increasing the amount of cash the public holds
The rule of 70 is: a. the ratio of 70 to the growth rate of a nation
b. the sum of 70 and the growth rate of a nation. c. the difference between 70 and the growth rate of a nation. d. the product of 70 and the growth rate of a nation.
A relative measure of the importance of trade is
A) the dollar value of trade. B) trade as a percentage of GDP. C) the dollar value of trade adjusted for inflation. D) trade as a percentage of investment.