The statement in a newspaper that "consumer prices rose last month by 1 percent, and if this trend continues, the annual rate of inflation will be 12 percent for the year" is an example of a normative economic statement. O 1) True 2) False

The statement in a newspaper that "consumer prices rose last month by 1 percent, and if this trend continues, the annual rate of inflation will be 12 percent for the year" is an example of a normative economic statement. O 1) True 2) False

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section: Chapter Questions

Problem 6PA

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The statement in a newspaper that "consumer prices rose last month by 1 percent,
and if this trend continues, the annual rate of inflation will be 12 percent for the
year" is an example of a normative economic statement.
1) True
2) False

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