Foundations of Economics, Student Value Edition (8th Edition)
Foundations of Economics, Student Value Edition (8th Edition)
8th Edition
ISBN: 9780134489230
Author: Robin Bade, Michael Parkin
Publisher: PEARSON
Question
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Chapter 1, Problem 9SPPA
To determine

To list:

Whether low income people paying high for housing is a positive or normative statement.

To determine

To list:

Whether decrease in the farms of U.S. is a positive or normative statement.

To determine

To list:

Whether the increase in production of parts by motor company T is a positive or normative statement.

To determine

To list:

Whether imports from China flooding the department stores in U.S. is a positive or normative statement.

To determine

To list:

Whether rural population declining in the U.S. is a positive or normative statement.

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Which of the following is a positive, rather than a normative, statement?a. Law X will reduce national income.b. Law X is a good piece of legislation.c. Congress ought to pass law X.d. The president should veto law X.
Is the following positive statements or normative statements? I. "Earnings increase with education because education raises a worker's productivity." II. The taxes imposed on gasoline in Barbados is excessive and inequitable to motorists. III. A decrease in income will result in a fall in the demand for motorcycles. IV. Rising flour prices will increase the price of bread. V. The government is more concerned with inflation than unemployment. VI. People are worried about the effects of joining the OAS
Which of the following is a normative economic statement? a. The national unemployment rate in January of this year was 5.5%. b. The government should commit to reducing income inequality. c. The inflation rate next year will be less than 3%. d. A reduction in the government deficit by 1% will make interest rates decrease 1%.
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