Which of the following is an example of a normative statement?
a. Higher unemployment rates are common among young people
b. Young people should learn how to prepare their own taxes.
c. Auto insurance rates are generally lower for younger
d. Persons under the age of 30 watch more movies than those over the age of 30.
b
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Productivity is defined as the
a. amount of goods and services produced from each unit of labor input. b. number of workers required to produce a given amount of goods and services. c. amount of labor that can be saved by replacing workers with machines. d. actual amount of effort workers put into an hour of working time.
If the Federal Reserve decided to include virtual money like Bitcoins in its measure of the money supply, what would be the effect on M1 or M2?
A) M1 would rise. B) M1 would fall. C) M1 would rise and M2 would remain constant. D) M2 would rise but M1 would remain constant.