Normative statements are easily debated whereas positive statements are simply rhetorical
Indicate whether the statement is true or false
False. Positive statements are not merely rhetorical. Rather, positive statements are testable statements. On the other hand, normative statements are not testable and therefore are often the most debated topics in society.
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If, at some level of output, total planned real expenditures are less than real Gross Domestic Product (GDP)
A) real GDP will either fall or remain unchanged, depending on the MPC. B) real GDP will rise. C) unplanned inventories will increase and real GDP will fall. D) real GDP remains unchanged.
Analyze the short-run and long-run effects of an unanticipated decrease in the money supply in the misperceptions model. Tell what happens to output, the price level, and the expected price level in both the short run and long run
What will be an ideal response?