The Secretary of Labor states that wage rates in the country have risen by 2 percent this past year. The head of a local labor union states that wage gains have not kept pace with the 3 percent rate of inflation. The Secretary's statement is a (n) ____ economic statement, and the labor head's statement is a (n) ____ economic statement.
a. normative; normative
b. normative; positive
c. positive; normative
d. positive; positive
e. proper; improper
Question 2
Which of the following is the best example of a normative economic statement?
a. A rise in gasoline prices will cause gasoline purchases to fall.
b. The federal government should spend more on health care.
c. Raising the minimum wage will result in greater unemployment.
d. If more money is printed, then the economy's price level will rise.
Astronomers identified 12-billion-year-old white dwarf stars only 100 light years away from Earth
Microscopic photo taken by Opportunity showing a gray hematite concretion, indicative of the past pr
Male Turkmen in the wealthier half of the population had higher fertility rates than those in the po
This fisherwoman from Kerry, one of the poorest counties in Ireland, may have been one of the many t
Power in the United States: The Model Proposed by C. Wright Mills
Overallocation of Labor to Farming When Farmworkers Are Paid Their Average Product