Author Question: Which of the following statements is a normative as opposed to a positive economic statement? A) ... (Read 191 times)

RODY.ELKHALIL · **on:** Jun 29, 2018

Which of the following statements is a normative as opposed to a positive economic statement?

A) Consumer spending generates more jobs.
B) If the price of gasoline goes up, people buy less.
C) Labor unions should be allowed to organize in every industry.
D) Government intervention in markets is common in many countries.

Question 2

An effective price ceiling usually generates

A) fire sales as firms try to unload their excess inventories.
B) higher nominal prices.
C) the use of nonprice rationing devices.
D) happy sellers and dissatisfied buyers.