Examples of Normative Statements in Economics
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Examples of Normative Statements in Economics
A normative statement is a statement that stresses an opinion or belief that cannot be readily tested. They generally suggest a mindset that...
Jul 14, 2018
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Examples of positive statements in economics
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Which of the following statements is a positive statement? Which is a normative statement?X: The minimum wage should be high enough that families will not live in poverty.Y: The federal minimum wage is increasing to 8.50 an hour.O X is positive: Y is positiveO X is normative; Y is normativeO X is normative; Y is positiveO X is positive; Y is normativeSuppose that France and Germany both produce wine and schnitzel. The table below shows combinations of the goods that each country can produce in a
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Which of the following statements is a positive statement? Which is a normative statement?X: The minimum wage should be high enough that families will not live in poverty.Y: The federal minimum wage is increasing to 8.50 an hour.O X is positive: Y is positiveO X is normative; Y is normativeO X is normative; Y is positiveO X is positive; Y is normativeSuppose that France and Germany both produce wine and schnitzel. The table below shows combinations of the goods that each country can produce in a
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