The President's statement that "to encourage economic growth, taxes should be cut"
A) would be an example of a normative statement.
B) would be an example of a positive statement.
C) would be an example of a microeconomic statement.
D) would be a statement of mercantilist economic philosophy.
Answer: A
You might also like to view...
Which of the following is an example of a price control policy?
a. Increasing the income tax rate b. Setting a minimum wage level c. Mandating a 2 percent tax on imported automobiles d. Mandating higher taxes on alcoholic beverages in the state
Traditional economic models assume that people care about:
A. relative consumption. B. absolute consumption. C. both absolute and relative consumption. D. neither absolute nor relative consumption.
Flour is an input used to produce cookies. Suppose that the price of flour rises. As a result
A) the supply curve for flour will shift to the right. B) the supply curve for flour will shift to the left. C) the supply curve for cookies will shift to the right. D) the supply curve for cookies will shift to the left.
Strong economic growth since 1960 has allowed nations like Singapore and Ireland to surpass nations such as the United Kingdom and France in real GDP per capita.
a. true b. false