Question
Which of the following are positive economic statements and which are normative economic statements? a. b. An increase in the price of gasoline will
Which of the following are positive economic statements and which are normative economic statements? a. b. An increase in the price of gasoline will decrease the quantity of gasoline purchased. The government should eliminate the minimum wage. All states should raise the minimum wage to at least $10 per hour. d. P e. The government should scrap its current income tax structure in favor of a flat tax. Unemployment has increased since the onset of the recession. f. The government should not bail out investment banks during a financial crisis.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started