Normative statements are not
a. descriptive.
b. prescriptive.
c. claims about how the world should be.
d. made by economists speaking as policy advisers.
a
Economics
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Someone who turns down an opportunity to purchase a Bible for $5 and then immediately pays $5 to attend a movie thereby expects to obtain more satisfaction from seeing the movie than from
A) cultivating the spiritual life. B) deepening his religious faith. C) owning the Bible just offered to him. D) reading the Bible.
Economics
If expected inflation increases, which of the following shifts right?
a. both the short-run and the long-run Phillips curves b. the short-run but not the long-run Phillips curve c. the long-run but not the short-run Phillips curve d. neither the long-run nor the short-run Phillips curve
Economics