Brinley says that "gas prices are rising because there aren't enough oil refineries." argues that "gas prices are rising because of the growing demand for gasoline fro and India." We can conclude that: Brinley's statement is positive; Katie's statement is normative. Both statements are positive. Brinley's statement is normative; Katie's statement is positive. Both statements are normative.

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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.