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

Question:

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 benets should not be used to assess environmental regulations.

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

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Microeconomics Private And Public Choice

ISBN: 9781305506893

16th Edition

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

Question Posted: