Macroeconomics: Private and Public Choice
15th Edition
ISBN: 9781285453545
Author: Russell Sobel; Richard Stroup; James Gwartney; David Macpherson
Publisher: South-Western College Pub
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Question
Chapter 1, Problem 11CQ
To determine
Determine the types of statement.
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Students have asked these similar questions
Which of the following best demonstrates the influence of economic factors on consumer decision-making?
a.
A consumer buys a Lexus after her neighbors and garden club pals each buy one.
b.
A married couple with three young children purchase a minivan.
c.
A blue collar worker holds off on buying a new truck, pending potential layoffs at work.
d.
A young professional buys a utility vehicle for off-road exploring.
18. Which of the following is a normative statement?
a.
Taking extra vitamin C prevents catching a cold.
b.
An increase in tax rates means people work fewer hours.
c.
Studying more hours leads to an increase in your GPA.
d.
States should require all motorcycle riders to wear helmets to reduce the number of accidents
Find one positive or one normative statement. Explain how you know they are either a positive or normative statement.
Chapter 1 Solutions
Macroeconomics: Private and Public Choice
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