Which of the following is a normative statement?
a. An increase in taxes will cause higher unemployment
b. An increase in tariffs will increase the domestic prices paid by consumers.
c. Income should be redistributed from the top 2% of wage earners to the lower income brackets.
d. Running government budget deficits leads to higher market interest rates.
c
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If a union restricts the supply of labor but cannot change the demand for labor, the union ________ the wage rate and ________ the level of employment
A) raises; decreases B) raises; increases C) lowers; decreases D) lowers; increases
In recent years the labor force participation rate has been fairly stable
A) as has the labor force participation rate for males, females, minorities, and nonminorities. B) although the female labor force participation rate has fallen while the male labor force participation rate has increased. C) although the male labor force participation rate has fallen while the female labor force participation rate has increased. D) although the labor force participation rate of young adults has increased while the labor force participation rate of those in the 40-55 age classification has fallen.
The higher the opportunity cost of borrowing, the higher the amount of investment, other things constant
a. True b. False Indicate whether the statement is true or false
Tax deductions were significantly ____ under the Tax Reform Act of 1986
a. increased b. decreased c. expanded d. left unchanged for individual taxpayers