The Comment That "Taxes Must Be Reduced for the Good

question 30

True/False

The comment that "taxes must be reduced for the good of the economy" is an example of a normative economic statement.

---

Definitions:

Price Level

An indicator of the typical cost of products and services within an economy at a specific time.

Price Level

An indicator that measures the average of current prices across the entire spectrum of goods and services produced in the economy.

Unit Prices

The cost per unit of a product, which allows consumers to compare costs of products irrespective of their package quantities.

Inventories

Quantities of goods that are held by a company in anticipation of being sold or used in production processes.