"The minimum wage should be increased so that low-income workers can afford to feed their families." This is an example of:
A)a positive economic statement.
B)a negative economic statement.
C)the fallacy of composition.
D)a normative economic statement.

Question

"The minimum wage should be increased so that low-income workers can afford to feed their families." This is an example of:
A)​a positive economic statement.
B)​a negative economic statement.
C)​the fallacy of composition.
D)​a normative economic statement.

Quizplus · Accepted Answer

This statement expresses a value judgement about what ought to be, rather than describing what is. Therefore, it is a normative economic statement.

"The Minimum Wage Should Be Increased So That Low-Income Workers