5. What is the difference between a positive economic statement and a normative economic statement? Determine...
5. What is the difference between a positive economic statement and a normative economic statement? Determine whether each of the following is primarily a positive economic statement or normative economic statement:
A) The current unemployment rate is below 4% in 2018
B) The inflation rate in the United States is too low
C) The Government should increase the minimum wage
D) U.S. trade restrictions cost consumers $125 billion annually
Homework Answers
The positive economic statement is a fact based based statement which can proved and dis- proved whereas the normative statement are opinion based statement and caters to should be and should not be.
A)Positive Economic statement
B)Normative statement
C)Normative Statement
D)Positive economic statement
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5. What is the difference between a positive economic statement
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6. Problems and Applications Q6 Classify each of the following statements as positive or normative. Positive...
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Can you help me come up with the positive economic statements This submission may be handwritten....
Can you help me come up with the positive economic
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This submission may be handwritten. Please print clearly. 1. Convert each of the normative statements from the handout to a positive economics statement. • Pollution is the most serious economic problem. • Unemployment is more harmful than inflation. The government should increase the minimum wage to $Y per hour to reduce poverty. The government is right to introduce a ban on smoking in public places.
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Can you help me come up with the positive economic
statements
This submission may be handwritten. Please print clearly. 1. Convert each of the normative statements from the handout to a positive economics statement. • Pollution is the most serious economic problem. • Unemployment is more harmful than inflation. The government should increase the minimum wage to $Y per hour to reduce poverty. The government is right to introduce a ban on smoking in public places.
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