Which of the following is a positive economic statement?
A) Income tax rates for the rich should be increased.
B) The Bank of Canada should not increase interest rates until the unemployment rate falls below 7%.
C) Rising global demand for gasoline has led to an increase in the price of oil.
D) The government should increase spending on infrastructure to lower the unemployment rate.

Question

Quizplus · Accepted Answer

This statement presents a factual observation about the relationship between global demand for gasoline and the price of oil. It does not include any subjective opinions or value judgments. Choices A, B, and D all involve normative statements about what policies or actions should or should not be taken, which are not objective statements of fact.

Which of the Following Is a Positive Economic Statement