b. Classify each of the following statements as positive or normative. Explain. i. Bahamas faces a trade-off between inflation and unemployment ii. The ECCB should reduce the interest rates iii. St. Lucia ought to provide a pension for all citizens iv. Higher tax rates discourage savings an working.
b. Classify each of the following statements as positive or normative. Explain. i. Bahamas faces a trade-off between inflation and unemployment ii. The ECCB should reduce the interest rates iii. St. Lucia ought to provide a pension for all citizens iv. Higher tax rates discourage savings an working.
Economics Today and Tomorrow, Student Edition
1st Edition
ISBN:9780078747663
Author:McGraw-Hill
Publisher:McGraw-Hill
Chapter1: What Is Economics
Section1.1: The Basic Problem In Economics
Problem 1R
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b. Classify each of the following statements as positive or normative. Explain.
i. Bahamas faces a trade-off between inflation and
ii. The ECCB should reduce the interest rates
iii. St. Lucia ought to provide a pension for all citizens
iv. Higher tax rates discourage savings an working.
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