Which of these is a normative statement? a. The gross domestic product of Kuwait increased by 3% last year. b. Japan has 1% inflation rate c. The government should increase taxes to improve government services. d. Poor countries have unemployment rate of around 6%

Which of these is a normative statement? a. The gross domestic product of Kuwait increased by 3% last year. b. Japan has 1% inflation rate c. The government should increase taxes to improve government services. d. Poor countries have unemployment rate of around 6%

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter2: Thinking Like An Economist

Section2.2: The Economist As Policy Adviser

Problem 2QQ

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Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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