Which one of the following is a positive economic statement?
a. An increase in the minimum wage will reduce employment for teenagers.
b. The minimum wage should be increased.
c. Social justice will be served by increasing the minimum wage.
d. Thoughtful people oppose an increase in the minimum wage.
Question 2
The statement, Violent crime has decreased in the last five years, is:
a. obviously wrong and, therefore, cannot be a positive statement.
b. normative since it can be answered by simply looking at the facts.
c. positive because it is testable.
d. not very interesting because all normative issues are of little importance.
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economic question
economic question