"The Standard of Living Is Too Low for Many Individuals

question 1

Multiple Choice

"The standard of living is too low for many individuals in the United States. The government should implement policies designed to achieve a more equal distribution of income." The preceding statements are

• A) positive economic statements based on cause and effect.
• B) normative economic statements based on value judgments.
• C) based on the fallacy of composition argument.
• D) an empirically validated economic principle.