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Economics 10th Edition by William McEachern
Edition 10ISBN: 978-1133188124Economics 10th Edition by William McEachern
Edition 10ISBN: 978-1133188124 Exercise 18
NORMATIVE VERSUS POSITIVE Analysis Determine whether each of the following statements is normative or positive:
a. The U.S. unemployment rate was below 9 percent in 2012.
b. The inflation rate in the United States is too high.
c. The U.S. government should increase the minimum wage.
d. U.S. trade restrictions cost consumers $100 billion annually.
a. The U.S. unemployment rate was below 9 percent in 2012.
b. The inflation rate in the United States is too high.
c. The U.S. government should increase the minimum wage.
d. U.S. trade restrictions cost consumers $100 billion annually.
Explanation
Verified
Verified
a. Positive statement:
The U.S. unemplo...
Economics 10th Edition by William McEachern
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