The comment that "the minimum wage should be raised to give working people in this country a fair wage" is an example of:
a. A normative economic statement
b. The fallacy of composition
c. A positive economic statement
d. The after this, therefore because of this, fallacy
a. A normative economic statement
You might also like to view...
In the above figure, if there is a negative relationship between the variables x and y, which of the graphs above can be used to indicate this?
A) Figure A B) Figure B C) Figure C D) both Figure A and Figure C
What are the sources of a country's comparative advantage?
What will be an ideal response?
On May 12, 2011, the U.S. dollar was worth 0.70 euros. How many dollars did it take to buy 1 euro?
A. 0.70 B. 1.43 C. 1.70 D. 2.70
If a firm with two large plants installs a large, custom built assembly line in each of its plants, the custom assembly line is an example of ________.
A) specialized capital B) managerial diseconomies C) a compensating wage differential D) geographic variation