7 Which of the following statements are positive and which are normative? a A cut in wages...
Question:
7 Which of the following statements are positive and which are normative? a A cut in wages will reduce the number of people willing to work. b High interest rates prohibit many young people from buying their first home. c No family ought to pay more than 25 per cent of its income in taxes. d The government should reduce its expenditure on roads and increase its expenditure on railways.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Economics
ISBN: 9781503632943
5th Edition
Authors: Douglas McTaggart, McTaggart Findlay & Parkin, Christopher Findlay, Michael Parkin
Question Posted: