Which one of the following is a normative statement ?

A. The richest 10 per cent of the population has had a bigger percentage increase in incomes over the past 10 years than the poorest 10 percent
B. Inflation is rising
C. The proportion of people’s income paid in taxes is higher under this government than under the previous one.
D. Inequality in the distribution of income is a more serious problem than unemployment

Unemployment means that ?

A. there is excess demand in the labour market
B. there are some people who will not work at the going wage rate.
C. people are not willing to work at the going wage rate.
D. at the going wage rate, there are people who want to work but cannot find work.

Resources in an economy ?

A. Are always found
B. Can never decease
C. Always increase over time
D. Are limited at any moment in time

You are planning to run a hot dog stand during a forthcoming fair. You originally estimated that you will generated sales revenue of Rs 2000 and you have already spent Rs 1000 building the hot dog stand. The hot dog stand is nearly completed but now you estimate total sales to be only Rs 800 because the fair clashes with a major music festival in a nearby location. You can complete the hot dog stand for another Rs 300 Your decision rule should be to complete the hot dog stand as long as the cost to complete the stand is less than ?

A. Rs 300
B. Rs 1000
C. Rs 500
D. Rs 800

Inflation is___________________?

A. a decrease in the overall price level.
B. an increase in the overall price level.
C. an increase in the overall level of economic activity.
D. a decrease in the overall level of economics activity

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