Author Question: Bill says: The imposition of a tax on tequila will increase its price. Bob says: Taxes should be ... (Read 46 times)

bobbysung · **on:** Jun 30, 2018

Bill says: The imposition of a tax on tequila will increase its price. Bob says: Taxes should be imposed on tequila because college students drink too much.
a. Both statements are normative.
b. Both statements are positive.
c. Bill's statement is normative, and Bob's statement is positive.
d. Bill's statement is positive, and Bob's statement is normative.

Question 2

We can calculate the GDP by adding the values added by each firm that produced the goods and services.
a. True
b. False
Indicate whether the statement is true or false