Which of the following is an example of a normative statement?
a. The GDP growth rate has been unstable over five years
b. The tax rate should be reduced to improve the quality of life in an economy.
c. The unemployment rate has been below the natural rate of unemployment in the U.S for the last 2 years.
d. The inflation rate of 2015 exceeds the inflation rate of 2014.
b
Economics
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What makes the macroeconomic performance of the 1993 to 1998 period so unusual is the
a. simultaneous occurrence of unemployment and inflation increases. b. simultaneous occurrence of real GDP decreases and inflation rate increases. c. occurrence of real GDP decreases while the unemployment rate increases. d. simultaneous occurrence of reduced unemployment rates and falling inflation rates.
Economics
Define the Taylor rule.
What will be an ideal response?
Economics