Which of the following is a normative economic statement? a. If we doubled the size of welfare payments, we would reduce the number of homeless persons. b. Companies should be concerned with more than just their profits. c. An increase in spending on airport security will reduce the number of hijackings. d. If social security were to be privatized, workers would earn a higher rate of return on their retirement contributions
Which of the following is a normative economic statement? a. If we doubled the size of welfare payments, we would reduce the number of homeless persons. b. Companies should be concerned with more than just their profits. c. An increase in spending on airport security will reduce the number of hijackings. d. If social security were to be privatized, workers would earn a higher rate of return on their retirement contributions
Chapter1: Introducing The Economic Way Of Thinking
Section: Chapter Questions
Problem 8SQP
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Question
Which of the following is a normative economic statement?
| a. |
If we doubled the size of welfare payments, we would reduce the number of homeless persons. |
|
| b. |
Companies should be concerned with more than just their profits. |
|
| c. |
An increase in spending on airport security will reduce the number of hijackings. |
|
| d. |
If social security were to be privatized, workers would earn a higher |
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