An increase in the federal minimum wage will provide a living wage for the working poor is:
a. a statement of positive economics. b. a fallacy of composition.
c. a tautology. d. a statement of normative economics.
Question 2
Which of the following is a positive statement?
a. I think we should pass a constitutional amendment to reduce the deficit.
b. President Clinton's way of dealing with the economy is better than President Bush's.
c. I hope interest rates come down soon.
d. If taxes are raised, unemployment will drop.
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