Which of the following is an example of a positive economic statement?
A) Workers with families should be paid at least the minimum wage.
B) If crime rates were reduced, the world would be a better place to live.
C) Marginal tax rates should be reduced for individuals in the highest tax bracket.
D) An increase in the price of gasoline will cause a reduction in the amount of gasoline purchased.
E) Corrupt politicians ought to be voted out of office.

Question

Quizplus · Accepted Answer

This statement provides an objective observation of how an increase in price will affect the quantity demanded, without expressing any normative judgment or opinion.

Which of the Following Is an Example of a Positive