Research on why interest rates were unusually high in the late 1970s and early 1980smoke Discuss whether each statement is an example of positive economics or normative economics or f it contains elements of both positive and normative economics: An increase in interest rates will lower the growth rate of the Jamaican economy. The 1990s was a dismal decade for the Guyanese economy. Exports fell to its lowest level since 1960. The goal of any economic policy should be to lower unemployment rates. The national minimum wage should be increased to by 15% as a method of reduci poverty. Protectionism is the only proper way to improve the living standards of workers whose jobs are threatened by cheap imports. hat are the three questions that any resource allocation mechanism must answer? st the three reasons why specialization could lead to a higher standard of living