Which of the following is a normative economic statement?
A) An increase in corporate income taxes will cause the unemployment rate to increase.
B) The costs of medical care are increasing faster than the incomes of U.S. citizens.
C) Teenage unemployment is over ten percent.
D) Teenage unemployment is too high.
D
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Saving equals:
A. assets minus liabilities. B. wealth minus assets. C. current income minus spending on current needs. D. current spending minus current income.
What is the relationship between the real interest rate, the supply of loanable funds and the demand for loanable funds?
What will be an ideal response?
If equilibrium real GDP rises from $4 trillion to $6 trillion when government purchases increase by $1 trillion, the MPC must be
a. 0.8 b. 0.4 c. 0.5 d. 0.2 e. 2
When there is an unplanned draw down of inventories, firms will increase production.
Answer the following statement true (T) or false (F)