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27 Nov 2019
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
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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