Basic Economic Concepts-Unit 1 (8-14%) Module (s) 1, 3, &4

Positive Statement: A tax cut will raise interest rates. Normative Statement: Payroll taxes are too high. 2. Tradition of normative analysis in macro. Traditionally, macro has emphasized normative analysis. Macro was "born" as a separate part of economics during the Great Depression of the 1930s when economic performance was terrible. ................
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