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1.Define positive economics and normative economics. Explain if each of the following statement is positive economics or normative economics: Minimum wage should be $15.00 an

1.Define positive economics and normative economics. Explain if each of the following statement is positive economics or normative economics:

Minimum wage should be $15.00 an hour

The average compensation package of a sample of 10 Fortune 500 companies was estimated to be $13.5 million

Drafts for professional sports like NBA, NFL and MLB is a market solution

Compared to a History Major an Accounting Major is expected to make significantly more

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