Explain the difference between positive and normative economics Consider the following two statements. In each case, explain briefly your answer: a.   A 5 percent fall in the unemployment rate will lead to a 2 percent increase in the inflation rate" b.   "Pollution in developing countries is one of the biggest global environmental problems" Which of the these  statements is an example of "positive" economics Which of these statements in an example of :normative "economics

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Laffer Curve Analysis

In terms of economics, the Laffer curve was popular among those economists who were or who belonged to the supply side of the economic peripheral.  This concept was popularized by the famous supply-side economist known as Arthur Laffer. This curve illustrated the relationship between the tax rates and government revenue. It is already known that the tax which the public or individuals residing in an economy bear is the revenue or income of the government with the help of which the government does all the necessary works in the society, which is beneficial for the economy.