Explain whether each of the following statements is an example of Normative Economics or Positive Economics?...
Explain whether each of the following statements is an example of Normative Economics or Positive Economics?
Please explain each answer by stating clearly what about each statement made you answer normative or positive. (If you say the statement is testable or not testable, you must tell me exactly why you said so. Be as clear as possible to avoid losing points.)
(a) Too many people in California are on welfare assistance.
(b) The Trump Tax cuts will lead to lower tax revenue.
(c) This country needs Medicare for all.
(d) Illegal immigration into the U.S. must be stopped.
Homework Answers
Positive Economics deals with statements which can be tested, amended or rejected by referring to the available evidence. Normative Economics deals with the statements of opinion rather than a fact.
a. Positive Economics. The statement is based on data which is quantifiable and does not involve any judgement. Thus, it is positive economics.
b. Positive Economics. This statement shows a relationship between tax rates and tax revenue and thus is based on cause and effect relationship and thus is positive economics.
c. Normative Economics. This statement is based on value judgement and not any fact and thus is normative statement.
d. Normative Economics - The statement involves value judgement on migration in the economy.
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Explain whether each of the following statements is an example
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