Macro Unit 1 1.1- Introduction to Economics Part 1 - Check Your Understanding- Write a paragraph about the current minimum wage. In your paragraph include statements that can be classified as microeconomics, macroeconomics, a positive statement, a normative statement, an example of trade-offs, and an example of opportunity costs. Create a key and annotate your paragraph to show each classification. (Examples for annotations: highlighter, underline, circle, squiggly line, etc) Key: microeconomics = macroeconomics = positive statements = normative statements = trade-offs = opportunity costs =