Which of these statements is “Positive”? a.Inflation occurs when the government increases the quantity of money...
Which of these statements is “Positive”?
a.Inflation occurs when the government increases the quantity of money in the economy.
b.In the US, equality should be increased even at the expense of some lost efficiency.
c.The U.S. government ought to cut taxes to stimulate demand in the economy.
d.Cigarette taxes should be increased
.
Homework Answers
Since a positive statement can be defined as a objective statements which can be tested, amended or rejected by verifying the available evidence.
The normative economics Statement is based on the ideological, opinion and value judgments. Its main purpose is to summarize people's desire to various economic developments by asking or saying that what should happen or what ought to be.
a.
Inflation occurs when the government increases the quantity of money in the economy.
Since this statement can be tested based on the previous year data.
Hence this is positive statement.
b.In the US, equality should be increased even at the expense of some lost efficiency.
Since in this statement there is public opinion about the equality and this value judgement cannot be tested with the given data.
Hence this is a normative statement.
c.The U.S. government ought to cut taxes to stimulate demand in the economy.
Since in this statement there is public opinion about what government ought to do about tax and this value judgement cannot be tested with the given data.
Hence this is a normative statement.
d.Cigarette taxes should be increased
Since in this statement there is public opinion about what government ought to do about tax and this value judgement cannot be tested with the given data.
Hence this is a normative statement.
.Hence only option a is an example of positive statement.
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