'It is not fair to increase the federal minimum wage because it causes an increase in unemployment among teenagers.' This is a:

Question

Quizplus · Accepted Answer

This statement is a normative economics statement because it expresses an opinion on how things "should be." It is not a statement of positive economics because it does not describe what "is" or provide factual information about the relationship between minimum wage and teenage employment. It is also not a testable value judgement because it is not clear what criteria would be used to determine if the statement is true or false. Finally, it is not a fallacy of composition because it does not make the argument that what is true for one part of a system must be true for the entire system.

'It Is Not Fair to Increase the Federal Minimum Wage