Multiple Choice
Which of the following is an example of a normative - as opposed to a positive - statement?
A) The discount rate is the interest rate the Central Bank charges banks to borrow funds.
B) The UK income tax rate increases with the amount of income earned.
C) The government should increase the tax on petrol.
D) The UK unemployment rate was around 8 per cent in 2013.
Correct Answer:
Verified
Correct Answer:
Verified
Q27: Economists often find it worthwhile to make
Q39: Which of the following is an example
Q42: Economists have helped modify the debate over
Q43: If economic models have so many limitations,
Q45: Economists may have different values and, therefore,
Q46: "An increase in interest rates will lower
Q47: What is the difference between rational thought
Q49: Economists often disagree about the validity of
Q141: While the scientific method is applicable to
Q199: Economists try to address their subject with