11. *Which of the following are positive economic statements and which are normative? a. The speed limit

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11. *Which of the following are positive economic statements and which are normative?

a. The speed limit should be lowered to 55 miles per hour on interstate highways.

b. Higher gasoline prices cause the quantity of gasoline that consumers buy to decrease.

c. A comparison of costs and benefits should not be used to assess environmental regulations.

d. Higher taxes on alcohol result in less drinking and driving.

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Macroeconomics Private And Public Choice

ISBN: 9781111970628

14th Edition

Authors: James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

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