Question: Serena has made an economic statement that would be categorized as normative. What did Serena say? Group of answer choices Inflation is an increase in

Serena has made an economic statement that would be categorized as normative. What did Serena say? Group of answer choices "Inflation is an increase in prices over time." "Today the inflation rate hit 8.6 percent." "The word 'inflation' is in the dictionary." "Inflation ought to be capped at 5 percent

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Normative economic statements are subjective and valuebased often incorporating what someone belie... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!