The Headline in the Local Paper Today Is "College Tuition

question 282

Multiple Choice

The headline in the local paper today is "College tuition next fall will be raised by 3 percent." This statement is an example of

• A) a normative statement.
• B) a positive statement.
• C) a macroeconomic statement.
• D) ceteris paribus.

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Definitions:

Tariff on Imports

A levy placed on imported goods and services by a government to shield local industries from overseas competition.

Total Output

The complete quantity of goods or services produced by a company, sector, or economy within a specific timeframe.

Exports

Sales of goods or services produced in one country purchased by residents of another country.

Imported Goods

Goods brought into a country from abroad for sale.