Which of the following is a normative economic statement?
A) An increase in corporate income taxes will cause the unemployment rate to increase.
B) The costs of medical care are increasing faster than the incomes of U.S. citizens.
C) Teenage unemployment is over ten percent.
D) Teenage unemployment is too high.
Question 2
Refer to the above figure. Production at Point E
A) would indicate that this economy is producing beyond its capabilities.
B) would indicate production at a level below that which is attainable.
C) is not attainable with given resources and technology.
D) would demonstrate a total lack of technical expertise.
The Inverted Income Pyramid: The Proportion of Income Received by Each Fifth of the U.S. Population
Population Density versus Economic Growth
Intergenerational Income Mobility in the United States
economic
economic question
economic question