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Economics
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Classify each as positive or normative. Explain

A) Society faces a short run trade off between inflation and unemployment

B) A reduction in the rate of money growth will reduce the rate of inflation

C)The Federal Reserve should reduce the rate of money growth

D)Society ought to require welfare recipients to look for jobs.

E) Lower tax rates encourage more work and more saving

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Yusra Anees
Yusra AneesLv10
29 Sep 2019
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Related questions

Classify each of the following statements as positive or normative:

Explain.

a.Society faces a short-run trade-off between inflation and unemployment.

b.A reduction in the rate of money growth will reduce the rate of inflation.

c.The Federal Reserve should reduce the rate of money growth.

d. Lower taxes encourage more work and more savings.

Identify whether each of the following statements are positive or normative.

A. There is short run trade off between inflation and unemployment

B. Reduction in money supplly reduces inflation

C. Central bank should reduce interest rate

D. Welfare recipients should look for jobs

E. Reduction in taxes increases savings.

For each of the following statements, specify whether a Keynesian, a monetarist, or a classical economist is most likely to support it, and explain in 1-2 sentences why. (Note: each economic view may be used more than once or not at all.

A) During a recession, government spending should be minimized. The Federal Reserve should focus on maintaining a constant growth in the money supply to help revive the economy.

B) Expansionary fiscal policy can help bring an economy out of a slump such as the Great Recession or Great Depression.

C) Markets should be left to correct themselves on their own, without any outside policy interventions.

D) Unemployment gravitates around a constant rate known as the Non-Accelerating Inflationary Rate of Unemployment, or NAIRU, implying a short-run trade-off between inflation and unemployment.

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