Which of the following is a normative economic statement?
A) Falling global demand for pesticides has led to decreases in the price of pesticides.
B) With falling mortgage rates and falling unemployment rates, the number of new homes being built has increased.
C) The state of Florida's unemployment rate dropped when several large companies relocated to the Miami area.
D) Global warming should be at the top of every economic agenda.
Answer: D
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That portion of the value of owners' property that exceeds the amount of their mortgage debt is called
A) equality. B) escrow. C) surplus. D) equity.
A negative income tax does not
A. increase work incentives for those who receive cash payments. B. increase work incentives for those who do not receive cash payments. C. affect incentives for the poor but affects incentives for low earners who are not poor. D. affect incentives, which is why it is efficient.