When a U.S. Senator tells a campaign crowd that "High inflation rates are a much more serious economic problem than high unemployment rates," it is an example of
A. an empirically proven fact.
B. a normative statement.
C. a microeconomic argument.
D. a positive statement.
Ans: B. a normative statement.
Economics
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Describe the technology transfer benefit of capital flows and the political power cost of large capital flows into low-income countries
What will be an ideal response?
Economics
A profit-maximizing firm in a monopolistically competitive market is characterized by which of the following?
a. average revenue exceeds marginal revenue b. marginal revenue exceeds average revenue c. average revenue is equal to marginal revenue d. revenue is always maximized along with profit
Economics