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An example of a normative question

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Reference no: EM131137836

1. If personal consumption is $100, investment is $50, government purchases total $25, imports equal $20, and exports equal $10, then GDP equals:

A.  $175
B.  $165
C.  $155
D.  $145

2. Which is an example of a normative question?
A.  What are the long-term effects of unemployment?

B.  How do interest rates influence employment?

C.  How do unemployment rates differ among nations?

D.  How should a society achieve full employment?

3. Suppose that a customer's willingness to pay for a product is $5, and the seller's willingness to sell is $2. If the negotiated price is $3, how much is consumer surplus?

A.  $1
B.  $2
C.  $5
D.  $8

Reference no: EM131137836

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