Statements About "What Ought to Be" Are Called

question 28

Multiple Choice

Statements about "what ought to be" are called

• A)economic statements.
• B)hypotheses.
• C)normative statements.
• D)positive statements.
• E)scientific statements.

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Definitions:

Economic Stimulus Package

A package of economic measures put together by a government to stimulate a floundering or stagnant economy and help it recover.

Impact Lag

The time taken between the implementation of an economic policy and the occurrence of its intended effects on the economy.

Federal Budget Deficit

The scenario in which the spending of the federal government surpasses its income within a specific fiscal year.

Discretionary Fiscal Policy

Economic policies based on government spending and taxation that are employed to manage economic fluctuations and steer the economy.