Which of the following statements is positive, which is normative? Explain. Q1 ai). "Given the current inflation, the government should reduce tax!" Ans: (2 marks): Q1 aii). "the latest inflation rate in Australia is 7.1%, the highest in 30 years". Ans: (2 marks): Question 1b) You have $1000 to spend. You have decided to purchase a new computer instead of replacing your mobile phone. Q1 bi). Did you face a trade-off? What was the trade-off? Ans: (2 marks) Q1 bii). What was the opportunity cost if you have chosen to purchase a new computer? Ans: (2 marks) The opportunity cost was: