1. Explain the relationships between the concepts of scarcity, opportunity costs, tradeoffs, choices, and wants.
2. Identify if each statement is normative or positive (simply list the question letter and "N" for normative and "P" for positive.)

a.Social Security is an example of a good government program.

b. The COVID-19 epidemic will be over by December.

c. Increasing taxes on cigarettes will decrease sales and consumption.

d. Increasing tariffs on imported goods is the best way to bring manufacturing jobs back to America.

e. We need lower taxes on higher incomes to increase work incentives.