Which of the following statements is a normative as opposed to a positive economic statement?
A) Consumer spending generates more jobs.
B) If the price of gasoline goes up, people buy less.
C) Labor unions should be allowed to organize in every industry.
D) Government intervention in markets is common in many countries.
C
Economics
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All else constant, if a nation's potential output doubles in 36 years, its average annual growth rate is
A. approximately 1% B. approximately 2% C. approximately 3% D. approximately 4%
Economics
The cost of borrowing funds which is stated on a loan is the
A) prime interest rate. B) nominal interest rate. C) real interest rate. D) core PCE interest rate.
Economics