Congress commissioned a study to determine what the poverty level or minimum level for subsistence should be for the U.S. population. What branch of economics does this represent?

A) Normative economics B) Positive economics
C) Microeconomics D) Macroeconomics

Answer: A

Economics

You might also like to view...

Unemployment insurance is:

A. offered by the government as a way to affect the level of seasonal unemployment. B. money that is paid by the government to people who are unemployed. C. offered by the government as a way to affect the level of cyclical unemployment. D. money that is paid to the government by employers who lay off employees.

Economics

Imagine you own a retail mail order business. You produce your catalog, where items and prices are listed, in January and you use the same catalog all year. The central bank in your country increases the money supply by an amount to cause inflation to average one percent each month. Ignoring any seasonality in sales (like the holiday season), what should happen to your sales as the year progresses and why?

What will be an ideal response?

Economics