Author Question: Give an example of a positive economic statement and a normative economic statement. What will be ... (Read 132 times)

Mr3Hunna · **on:** Jun 29, 2018

Give an example of a positive economic statement and a normative economic statement.

What will be an ideal response?

Question 2

The Smoot-Hawley Tariff

A) raised average tariff rates by over 50 percent in the United States in 1930.
B) was passed by the U.S. Congress following the Civil War as a means of increasing government revenue.
C) was passed by the U.S. Congress upon a recommendation made by the General Agreement on Tariffs and Trade (GATT) in 1948.
D) lowered U.S. tariffs by 50 percent following World War II.

katkat_flores · **Reply #1 on:** Jun 29, 2018

Answer to Question 1

Student responses will vary. What is important is that the positive statement is objective and attempts to explain what is. The normative statement should include some value judgment or what should be.

Answer to Question 2

A