Which of the following is a nomative statement? O When the price of gasoline falls, profits for the major oil companies will also fal O An increase in the minimum wage is needed to help lower income families to improve their standard of Iiving O Higher tuition and fees will reduce enroliment at the University of Alabama. O An increase in Tuscaloosa's sales tax will drive consumers to shop more online at websites like Amazon.com that do not charge sales taxes

Brief Principles of Macroeconomics (MindTap Course List)
8th Edition
ISBN:9781337091985
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter2: Thinking Like An Economist
Section: Chapter Questions
Problem 2CQQ
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Which of the following is a nomative statement?
O When the price of gasoline falls, profits for the major oil companies will also fall.
An increase in the minimum wage is needed to heolp lower income families to improve their standard of Iiving
O Higher tuition and fees will reduce enrollment at the University of Alabama.
O An increase in Tuscaloosa's sales tax will drive consumers to shop more online at websites like Amazon.com that do not charge salos taxes
Transcribed Image Text:Which of the following is a nomative statement? O When the price of gasoline falls, profits for the major oil companies will also fall. An increase in the minimum wage is needed to heolp lower income families to improve their standard of Iiving O Higher tuition and fees will reduce enrollment at the University of Alabama. O An increase in Tuscaloosa's sales tax will drive consumers to shop more online at websites like Amazon.com that do not charge salos taxes
In the circular flow model, goods and services flow from
to
through the
O households, firms, goods markets
O households, firms, factor markets
O firms, households, goods markets
O firms, households, factor markets
Transcribed Image Text:In the circular flow model, goods and services flow from to through the O households, firms, goods markets O households, firms, factor markets O firms, households, goods markets O firms, households, factor markets
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