2. Which of the following two statements involves positive economic analysis and which normative? How do the

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2. Which of the following two statements involves positive economic analysis and which normative? How do the two kinds of analysis differ?

a. Gasoline rationing (allocating to each individual a maximum amount of gasoline that can be purchased each year) is poor social policy because it interferes with the workings of the competitive market system.

b. Gasoline rationing is a policy under which more people are made worse off than are made better off.

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Microeconomics

ISBN: 9780132080231

7th Edition

Authors: Robert S. Pindyck, Daniel L. Rubinfeld

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Question Posted: Oct 26, 2024 03:00 AM

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2. Which of the following two statements involves positive economic analysis and which normative? How do the

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Microeconomics

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