A government minister states that wage rates in the country have risen by 2 per cent in the past year.The head of a trade union states that wage increases should have been higher.The minister's statement is a __________ economic statement, and the union leader's statement is a __________ economic statement.

Question

Quizplus · Accepted Answer

The government minister's statement is a positive economic statement, as it presents factual information about the change in wage rates. The union leader's statement is a normative economic statement, as it expresses an opinion about what the wage increases should have been.

A Government Minister States That Wage Rates in the Country