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Economics (AS & A Level) · May / June 2021 · Paper 13 · Question 2

9708Economic methodology

Which statement is a normative statement?

  1. AChina has never had a balance of payments surplus.
  2. BHigher interest rates might reduce investment.
  3. CPerfect competition is allocatively efficient.
  4. DWelfare payments should be increased.

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Correct answer: D. Welfare payments should be increased.

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