The statement that the U.S. government should increase carbon taxes to reduce carbon emissions that cause global warming is? ___________.
A. a positive? statement, since most studies have found that global warming does exist and most economists do believe that carbon taxes are an effective way to control emissions.
B. neither a positive nor a normative? statement, since it discusses the broad topic of global warming instead of a specific issue within the country.
C. a normative? statement, since it is an incorrect statement. Most economists believe that carbon taxes should be lowered to control emissions.
D. a normative? statement, since it describes what ought to be done and is therefore not possible to confirm with data.
D. a normative? statement, since it describes what ought to be done and is therefore not possible to confirm with data.
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Along a short-run Phillips curve, the
A) long-run cost of lower inflation is higher unemployment. B) short-run cost of lower unemployment is higher inflation. C) short-run cost of lower inflation is higher interest rates. D) short-run cost of higher inflation is a higher real interest rate. E) short-run benefit of lower unemployment is lower inflation.
Under what conditions should a competitive firm shut down in the short run?
What will be an ideal response?