"The U.S. government should not use my tax dollars to subsidize people on welfare"
A) is a positive economic statement because it simply describes one person's opinion.
B) is a normative economic statement because it involves a value judgment about an economic policy.
C) is a positive economic statement because it predicts that my tax dollars will go to welfare.
D) is a normative economic statement because it is a scientific fact.
B
Economics
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Adverse supply shocks can cause a recession with increasing price level
Indicate whether the statement is true or false
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Economists who believe in encouraging concentration
a. are clearly wrong b. think that high prices are beneficial to society c. think that lower prices result from economies of scale d. want the government to break up monopolies e. favor a laissez-faire approach
Economics