Which of the following statements is a normative as opposed to a positive economic statement?
A) Consumer spending helps to create jobs.
B) If the price of gasoline goes up, people buy less gasoline.
C) Labor unions should be allowed to organize in every industry.
D) Government intervention in markets is common in many countries.
Answer: C
Economics
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The type of unemployment for which the net economic costs are most likely to be small is
A) cyclical unemployment. B) chronic unemployment. C) frictional unemployment. D) structural unemployment.
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The Drug Price Competition and Patent Term Restoration Act of 1984 fostered competition from generic drugs by facilitating their approval
Indicate whether the statement is true or false
Economics