Classify each of the following statements as positive or normative: Society faces a short-run tradeoff between inflation and unemployment. A reduction in the rate of growth of money will reduce the rate of inflation. The Federal Reserve should reduce the rate of growth of money. Indiana should require welfare recipients to look for jobs. Lower income tax rates encourage more work and more saving.

Classify each of the following statements as positive or normative: Society faces a short-run tradeoff between inflation and unemployment. A reduction in the rate of growth of money will reduce the rate of inflation. The Federal Reserve should reduce the rate of growth of money. Indiana should require welfare recipients to look for jobs. Lower income tax rates encourage more work and more saving.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter1: The Role And Method Of Economics

Section: Chapter Questions

Problem 4P

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